If you have held previous employments, the chances are you will have retained benefits being held for you by the Employer/Trustee of the old company pension scheme.
The trustees are responsible for making sure your benefits are managed sensibly, typically in a default fund, which may be the conservative option in the range of funds offered to members. There is no obligation on the part of the Trustees to make sure you received outstanding performance, or are placed in the higher yielding funds.
You have the option to control these benefits as you would any investment you own. You can choose where and how these funds are invested until you can access them at retirement. The monetary difference of 1% per annum compounded over 20 years is enormous, so it is important to take control and get good advice.
If you have held previous employments, the chances are you will have retained benefits being held for you by the Employer/Trustee of the old company pension scheme. The trustees are responsible for making sure your benefits are managed sensibly, typically in a default fund, which may be the conservative option in the range of funds offered to members. There is no obligation on the part of the Trustees to make sure you received outstanding performance, or are placed in the higher yielding funds. You have the option to control these benefits as you would any investment you own. You can choose where and how these funds are invested until you can access them at retirement. The monetary difference of 1% per annum compounded over 20 years is enormous, so it is important to take control and get good advice.