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One of the difficulties of the UK pension system is that of finding out exactly what you are entitled to receive when you retire.
Most of us will work for several employers in the course of our lifetimes, each period of employment offering a different type of pension and different entitlements at retirement.
Yet knowing what you have built up so far is critically important in that it determines the gap you will be trying to bridge in the rest of your working life.
There are three major components to your final retirement income:
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The state pension
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Any occupational pension you may have been a member of
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Any personal pension started and, perhaps, halted at some time in your career
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The state pension
We can assist you to determine what your projected pension is likely to be. This will include your combined basic state pension and earnings-related top-up
(Serps), if applicable.
We will ascertain what benefits you have accumulated and what you are likely to receive in the future, based on what you expect your working pattern to be in the coming years.
Occupational pensions
Even if you have lost track of previous company pension schemes that you were once a member of we can help you track this information down. The Pensions Regulator, is the company pension scheme watchdog that has details of over 200,000 past and present pension schemes. We can use the new Pensions Tracing service can be used to locate lost schemes and benefits.
The information we receive from both former and current employers will provide us with information about your updated pension entitlements.
Personal pensions
If you have built up one or more personal pensions, we will write to the companies concerned and ask for an updated statement. This will tell us how much the pension pot and how much of an income, based on current estimates, that pot could buy you at retirement.
If you have lost any scheme details we can also obtain this information from the Pensions Tracing service.
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Need to track down your pension? Please e-mail or contact us!
Levels and bases of, and reliefs from, taxation are subject to change.
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