How can I find my pension?

There are several different ways you can track down old or lost pensions. It may seem a bit daunting but there are lots of tools and services designed to help. 

Pension Transfers

Tracking down your old pension pots is like finding a needle in a haystack: you're not sure where to start and it can be seriously fiddly.

There's one magic key to locating these old pots, and that's the policy reference number. The policy reference number is a 16 digit string of letters and numbers.

Here's how to track these pots down:

I don’t have any provider information

Have a Penfold pension? You're in luck. You can use our "Find My Pension" service to help you track down any lost or forgotten pots. All you need is the name of your old employer.

Sign in and hit "Transfer Your Pension", then "Find My Pension" to get started.

If you're not a Penfold saver, then you may have to play detective. You can try these simple steps in order to work out who your provider is:

  1. Use the governments' free pension tracing service. Type in your old employer name into the search box. If no options appear, then move onto the next step. If potential providers do appear, scroll down to the next section.
  2. Search 'pension' in your email inbox and trash, to see if your provider has sent you any emails about your policy. If you find a provider name, head on to the next section.
  3. If the pension was provided by a previous job, call or email your old HR department and ask who they setup your workplace pension with. You'll only need to know the rough dates you worked there, and your national insurance number. They'll be able to confirm the provider name.

I know the provider name, but not the policy reference number

All that's left to find is the policy reference number:

  • Call your pension provider and state your name, national insurance and the employer who set this pension up for you. They'll be able to tell you your policy reference number after they've gone through a few security questions

What's next? Transferring your pensions

Once you've gathered all of your old pension details, you can choose to combine them together into a single pension plan. There's many benefits of doing this, including lower fees and easier tracking and management of your finances.

Many pension providers offer a transfer service, who can organise the entire process for yo. Some may charge a fee for the transfer process that you need to be aware of.

Penfold offers a completely free pension transfer service to their customers. We streamline the transfer process to make it as simple for you, which means the process takes only 5 minutes, it's entirely online, with no paperwork, no jargon and no hassle. We transfer any pension no matter its value or how old it is, from any provider or employer, and as many as you’d like.

If you want to transfer existing pensions to Penfold, simply create an account and open with a transfer request. It takes all of 5 minutes!

Things to think about before transferring

Before making a decision on transferring, you should look into the different plans you have and compare the different features including: the fees and charges, the fund selection and what services they offer at retirement. It's also really important to make sure you check if there are any exit fees

Some pensions might offer special benefits or guarantees. These are called defined benefit pensions. Penfold cannot accept these pension transfers, and it may not be possible to transfer these plans to other providers because of the advantages they provide you with. It may be best to speak to a financial adviser if you have a pension with these features to work out the best options for your particular circumstances.  

If you decide to close your Penfold account and the value of your pot has gone down, the amount returned to the provider may be less than what you originally transferred. Please know that if your employer is paying into your pension currently, transferring that pot may mean you lose out on their contribution. 

With pensions, as with all investments, your capital is at risk and the value of your pension with Penfold may go up as well as down. You may get back less than you put in.

Please have a read here of the few things that you should consider before making a decision to transfer your pension. 

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