Summary

  • If you change employer, you may be enrolled into their chosen workplace pension scheme
  • If that scheme is not with Creative Pension Trust, you can either transfer your savings with us to your new employer’s scheme, or keep it with us
  • Once your pension with us is paid up, you can generate a Transfer Pack in the Creative Pension Trust Member Portal, which contains the information you need to give your new provider
You may need to speak to us about this
Applies to all our plans

What if I change employers?

If you change employers and have previously been auto enrolled, you are likely to be auto enrolled into their workplace pension scheme after you start your new job.

We will email you a Leaver’s Pack, explaining the options for your pension with us and ask that you log into your account on the Creative Pension Trust Member Portal to:

  • Ensure we have your current personal email address, NOT an email address issued by your employer. Without a personal email address, you may lose access to your account online and we may not be able to keep you updated on important matters relating to your pension)
  • Ensure we have your current mobile telephone number

When it comes to your Creative Pension Trust account, you have two options:

  1. Leave it where it is: you can keep your pension savings invested with us. This is often known as a ‘frozen’, ‘paid-up’, or ‘deferred’ pension. If you’re happy with things the way they are, you can keep your savings safely invested with us. As a member of Creative Pension Trust, our Trustees will continue to ensure everything is managed and governed to a very high standard. Depending on your plan, certain regular membership fees may be reduced. You should also continue to check on your plan regularly, particularly if you have selected your own investment funds.
  2. Transfer the balance in your pension to your new employer. You can also choose to transfer your pension savings to your new employer’s scheme. To do this, you can generate a Transfer Pack in the Creative Pension Trust Member Portal once your account is no longer active and your employer has indicated to us that you have left. Bear in mind this may take a little while if they still need to send us their last contribution for your pension.This will provide everything you need to give to your new employer’s pension provider. Once we receive an instruction from your new provider, we will begin the transfer process on your behalf. This may take several weeks, depending on your new provider.

If you are considering a transfer, it’s important to consider the following things:

  • We encourage all members to consider financial guidance or advice before making a transfer.
  • You should check the charges and fees associated with your new pension scheme as there is no guarantee these will provide the same value for money.
  • Know who you are dealing with. Every year, pension savers lose millions to fraud and scams. Don’t risk your life savings – unless you are transferring to an employer’s official workplace pension, know who you are dealing with. You can find out more about pension scams on this website.

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