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Do
you think you have a personal pension that has been lost or
a 'frozen pension' with a previous employer?
At a time
when many people are facing retirement with insufficient provision
it is estimated that over £3 billion of personal pensions
or occupational pension funds remain unclaimed, and the Unclaimed
Assets Register estimate this figure to be as high as £20
billion.
Were you
one of the millions of people who 'contracted out of SERPS'
the state second pension or state earnings related pension
scheme and have since lost track of who is holding those valuable
national insurance contributions which you may not be able
to claim when you retire?
Moving
house and changing employers are the main reasons people need
to trace their lost or 'frozen' pensions but it could be that
a previous employer or pension provider has changed their
name, address, been taken over or even gone bust!
The good
news is that there is a database of over 200,000 pension schemes
and an easy search facility to see if you 'contracted out'
of SERPS which can be accessed to help you locate your pension
funds and then decide what to do next.
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Trustees may not hold your up to date details
Have all your pensions in one place
Decide how your pension funds are managed
Opt for an earlier retirement
Take an enhanced tax free lump sum
Defer taking benefits until the market improves
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