Additional Pension

I have a pension can I have an additional pension? – Pensionfinder








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    I have a pension can I have an additional pension?

    Yes. You can have as many pension as you wish as long as your annual contibutions do not exceed your annual or lifetime limit. The annual linit is at the time of writing £255,000 and the lifetime limit in a fund is £1.8mn.

    Of course you can only contribute to an occupation pension scheme whilst you are employed by the organisation. Therefore you may have several pensions running with former employers. These are often called dormant pensions as you are no longer contributing to them but they are still growing depending on fund performance. If thye are not performing many people chose to transfer their pots and consolidate them into a fund that is being actively managed.