Pensions . I havent a clue

tom thum

hi. hows it goin? im 29 now and i have worked for a couple of different companies since ive left school. i know the first company i worked for , i paid into a pension scheme and then i was made redundant. what i need to find out is how much i have paid into pension schemes and also where would be the best place to start a pension. i really really havent a clue about them. so any information about them would be appreciated, no matter how big or small u think the information is. is there anywhere i can call and give my pps number to see how much ive paid?? etc. etc ? thanks

me_right_one

I'd 99% of people on company pension schemes are in the same boat! Simple, bullet-point style information seems impossible to get! I'll be watching this thread like a hawk.

tom thum

cool. hopefully a few financial advisors might see it and give us a dig out.!!!

When you leave employment, it is standard procedure that you would receive 'leaving service option papers'. These would give details on contributions, values and what your options.

Have you any recollection of getting these?

Din Taylor

tom thum wrote: »

hi. hows it goin? im 29 now and i have worked for a couple of different companies since ive left school. i know the first company i worked for , i paid into a pension scheme and then i was made redundant. what i need to find out is how much i have paid into pension schemes and also where would be the best place to start a pension. i really really havent a clue about them. so any information about them would be appreciated, no matter how big or small u think the information is. is there anywhere i can call and give my pps number to see how much ive paid?? etc. etc ? thanks

With regards to starting a new pension you're unlikely to get inot a final salary scheme now unless you're very lucky. Your employer may be willing to (or already is?) contribute into a defined contribution scheme. If you're going it alone you'll need to speak to an independent financial advisor who can give you whole of market advice on your best options i.e. which provider to use.

One thing to be aware of though is some advisors don't charge you but gain their renumeration through commission from providers. A minority of these move pension schemes between providers so that they keep on earning initial commission. This is known as "churning".

Anyway it is good you're thinking about this at your pesion at your age. :) Many people don't do this and end up with an inappropriate income at retirement.

tom thum

Deleted User wrote: »

When you leave employment, it is standard procedure that you would receive 'leaving service option papers'. These would give details on contributions, values and what your options.

Have you any recollection of getting these?

hi. i dont remember getting these papers. its a good few years ago now. but i think it was the cif i was with. i didnt pay that much into it , i dont think. but id stilll like to know.

You can contact the CIF here

umpsty

You should get all you need from the your previous empleyer if they are still in business? Cotact their HR department.

Regarding starting a new pension are you loking fr a new job, if s perhaps wait to see if they have a pensin scheme. If you want to start your own pension then you should talk to an independent financial advisor and start a PRSA.