What is a frozen pension?
A common choice for people when leaving a company is to leave their old pension where it is and start a new one with their new employer. Their old pension is often referred to as a frozen pension.
Can I still pay into a frozen pension?
No, you cannot usually make further payments into a frozen pension.
Should I receive an annual statement about my frozen pension?
Yes you should receive annual statements of the benefits and projections of income from your fund provider. However, sometimes this fails to happen and pensions are forgotten about or lost.
Can I move my frozen pension?
Yes, it could be worth considering transferring your old company pension somewhere else, say into a pension fund you can continue adding to, or that will yield greater benefits than the current scheme or give a higher degree of control.
Can I get the money in my frozen pension released?
With proper advise, potentially yes. Our representatives can locate all your pension contributions and contact the trustees or fund managers to request that any frozen pension monies are released.
If I want to recover my frozen pension money what should I do?
If you need help recovering a frozen pension, or decide to investigate transferring your pension into another pension vehicle, please contact us today.