When you change employment you must be able to receive an up-to-date statement on the value of your occupational pension from your pension provider. If you wish to transfer your pension you can ask your current scheme to pay a lump sum into another pension scheme, either occupational, stakeholder or personal, as long as your new scheme will accept the transfer.
It is up to your new pension scheme to inform you what benefits if any you will receive for this money. You have the option to leave the amount in your old pension scheme and carry on with your new pension as it is. There can be costs incurred in administration in transferring your pension, so if you are unsure how to proceed you are advised to seek advice from an Independent Financial Advisor, bearing in mind that you may incur costs from such a consultation.
