Why and how to transfer your old pension pots to Cushon
This article explains why you may want to consider bringing your different pension pots together, and how to do it in the Cushon app.
It's easy to end up with pension money squirrelled away in a few different places. It happens as we change workplaces and get set up on different schemes by different employers.
Managing and tracking multiple pots can be a bit tricky
But transferring your old workplace pension pots to one place is easy and (usually) free. And it only takes a few moments to get started.
Why transfer your old pots to Cushon?
Easy to see what you've got: With the Cushon app you can check your money all the time. See what you're paying in, and what your employer is.
Easy to see future returns: Compare what your savings might turn into in the future with different levels of contribution. It makes it easier to see how it's going.
Easy to make changes: If you want to change details on your pension - like what it should be invested in, or who should get your money after you've gone - you can do it all in one place.
Easy to start accessing your money: No more paper to dig out in years to come. Get your hands on your money through the app when you start taking your pension (currently possible from the age of 55, rising to 57 from 2028).
How to start transferring your old pots
Step 1
Open the Cushon app and select Transfers.
You can find it in the main menu of the app. From the welcome page click "Got it."
Step 2
Click 'Start a new transfer'.
Select 'Pension' from the dropdown list. Confirm that your employer isn't paying in anymore, and that you're not taking an income from this pot.
Step 3
Select the provider name and your pension number.
We need these two pieces of info to get your transfer started. You should be able to find them in an old pension statement or welcome pack.
Step 4
Tell us how much you have in the old pension pot.
A rough estimate is fine.
Before you go ahead
Remember: some kinds of pensions have special benefits attached, and may be best left where they are. Here are some things to consider. It's important to make informed choices about your pension. You may want to take professional advice before making any decisions.
This communication is for information purposes only and is not personal advice. The value of investments can fall as well as rise, and you may get less than the full amount you invest.
Article by
NatWest Cushon Explainer
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