Cashing out a Pension?

[PurpleMoonlight]

Poxy workplace pensions are going to see millions of these trifling pension arrangements in the future.

[The Leaper]

....and millions of £s will be spent trying to trace the small pensions because employees moves house, and doesn't tell the pensions providers their new address, and all contact is lost.

R.

[brrapp]

I used to work in the building industry, lots of works pension schemes on offer but no-one ever took them up as most people only stayed in one job for a few months or a couple of years at most. I always signed up for them and about 5 years ago I looked them all out and found that I had 8 in total ranging from a couple of hundred in value to a few thousand. I visited a financial advisor who lumped them all together and bought a single one for me instead. The cash in values added up to about £22000 but by the time all the fees came of, my new pension was worth about £17000. Five years on, it's back up into the mid £20k s and forecast to be mid £30k s by the time I retire in a few years. Not bad for a few quid here and there that I never noticed paying all these years ago.