How can I find out if I have an old workplace pension?
There are an estimated 1.6 million pension pots worth £19.4bn that have been forgotten as workers change jobs – could one of those pension pots be yours? If you’re not sure whether you have an old workplace pension, we can help. Answering yes to one or all of these simple questions is a good indicator that you may have an old workplace pension.
1. Have you been employed at some point since 2018?
Unless you opted out of your workplace pension or didn’t meet the auto-enrolment criteria (see below), it’s very likely that you’ll have paid or still pay into a workplace pension.
2. Have you worked in the public sector?
There are specific public sector pensions set up for public sector employees, like NHS workers, civil servants, teachers and local government workers. These schemes tend to have very high enrolment rates across all ages and income brackets, so as a public sector employee there’s a good chance you would have joined your workplace pension scheme.
3. Have you worked for an employer after October 2012 which had more than 50 employees?
Auto-enrolment was introduced in stages from October 2012, meaning many workers would have been automatically enrolled into a workplace pension well before the 2018 deadline. Large employers with staff in the tens of thousands were the first to offer auto-enrolment. By April 2015, many organisations with more than 50 workers would have had to automatically enrol eligible employees into a workplace pension.
4. Since turning 22, have you worked for more than three months with an annual salary of at least £10,000?
This sounds a little complicated, but the rules mean you need to be at least 22 years old, working in the UK and earning more than £10,000 a year to be eligible for auto-enrolment into a workplace pension.
While this guidance can give you a good idea of how likely it is that you have an old pension pot, the best way to know is to dig out any old paperwork confirming that you were enrolled into a pension scheme, or to get in touch with your previous employer and ask them.
Before getting started, you should know there are some cases where you won’t be able to transfer a pension to us:
You’re still working for your employer: If you’re still working for your employer and paying into your workplace pension, you won’t be able to move it to Moneybox until you’ve stopped contributing to it (usually after you change jobs).
You have guaranteed benefits in your pension: We also can’t accept transfers from pensions which come with valuable guaranteed benefits – which might be the case if you’ve worked in the public sector.
Pretty certain you have a transferable old workplace pension?
If you’re confident you have a ‘lost’ pension pot but don’t know the details, submit a few details to our Pension Search tool and our dedicated Pension Detectives will help track it down for you. 🕵️♀️