Frequently Asked Questions

Can I improve my UK occupational pension before I retire?

If you belong to a occupational pension scheme and are no longer employed by the employing company that allowed you to become a pension member you are effectively a “deferred” member. You pension benefits will typically increase at the Retail Price Index (RPI)-usually restricted to a maximum of 5%p.a. The rate of RPI in recent years has been between 1.8%p.a and 3%p.a. The only opportunity you have to allow your pension to grow at a higher rate than RPI is to transfer your occupational pension to a personal pension such as Self Invested Personal Pension Plan (SIPP). You will enjoy 100% of the growth of your invested funds.

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