What happens to my workplace pension when I leave a job? The money stays yours and stays invested, but you and your employer stop paying in.

Leaving an employer does not wipe out what you have built up. What changes is that new money stops arriving, and you get choices about the old pot: leave it, move it, or in a few cases take your own contributions back. Several jobs, several pots: an FCA-authorised adviser can line them up in a single call back, which you can ask for through this page’s quick form.

What happens to my workplace pension when I leave a job?

You keep it. GOV.UK says: “Your workplace pension still belongs to you. If you do not carry on paying into the scheme, the money will remain invested and you’ll get a pension when you reach the scheme’s pension age.” Most schemes set that age between 60 and 65, though you may be able to take it earlier; see at what age you can start taking your pension.

Three things follow from leaving:

  • Contributions stop. Your payments end, and so do your employer’s. Your pot is then called a deferred pension, and you are a deferred member.
  • Nothing is cashed in automatically. The pot is not paid out, and it is not forfeited either.
  • The scheme type decides the rest. A defined contribution pot is a sum of money invested for you. A defined benefit scheme promises an amount based on pay and years of service.

Whether you resigned, were dismissed or were made redundant, the scheme type and its own rules decide your options. If you are leaving because you are moving abroad, paying into a UK pension from abroad has its own page.

Does my old pension pot keep growing, and what does it cost?

A defined contribution pot stays invested, so its value can rise and fall. MoneyHelper puts it this way: “Even though no more money is paid in, your pension can still go up (or down).” The value of investments can fall as well as rise, and you may get back less than was paid in. Past performance is not a guide to what happens next.

Charges carry on too, and a pot can shrink when growth does not keep pace with its management fees. MoneyHelper’s guide to charges adds that some older schemes may increase their fees once you stop contributing, so it is worth asking what your old scheme charges now. Workplace pension charges explains the rules and the cap on default funds.

Your provider sends a statement each year with the value of the pot, and this is the quickest way to see what has happened since you left. If a statement never arrives, tell the provider where you now live.

Can I get my pension contributions back if I leave?

Only if you were in the scheme for a short time. What counts is how long you were a member before you left, not how quickly you ask afterwards.

  • Defined contribution, in a trust-based scheme: under section 71 of the Pension Schemes Act 1993, a member who leaves with at least 30 days’ qualifying service is entitled to keep a pension in the scheme. A refund of your own contributions is possible only if you leave inside those first 30 days and the scheme’s rules allow one.
  • Automatically enrolled and leaving in the first weeks: you can opt out instead. The Pensions Regulator’s guidance gives one month from the first day of the opt-out period, and the employer then refunds the contributions that were deducted.
  • Defined benefit: GOV.UK says that if you were in a defined benefit scheme for less than 2 years you might be able to take a refund of what you contributed, or a cash sum transfer to another scheme, depending on the scheme’s rules.

A refund returns your own contributions only. In MoneyHelper’s words, “You won’t get any money your employer has paid in.” Past those limits the money stays in the pension, and you normally cannot take it before 55 (57 from April 2028).

Taking your own contributions back means giving up the employer’s share and any growth. If you joined only weeks before leaving, ask your old employer or the pension provider straight away whether its rules allow a refund.

Leave it, move it or combine it? Weighing up an old workplace pot

Once you have a new job, you can join its scheme, and GOV.UK says you might be able to carry on making contributions to your old pension or combine the old and new schemes. Your providers can say which of these they allow.

Moving has costs as well as benefits. MoneyHelper warns that “There’s always a risk of losing valuable benefits by transferring your pension, as your existing pension provider might offer unbeatable features.” It adds that you should compare fees and charges before transferring. GOV.UK also notes that if you pay into an old pension after moving jobs, some of its benefits may only be available to current workers.

Questions worth putting to each scheme before you decide:

  • What do I pay each year to keep the pot where it is, and what would the new scheme charge?
  • Does the old scheme have guarantees, a lower pension age or other features I would lose by moving?
  • Is there a fee for leaving?
  • Can the new scheme actually accept a transfer in?

For the full picture, see transferring an old pension to a new employer and, for the process itself, how to transfer your pension. Reading the figures for your old pots is easier with help, and the short form here books time with an FCA-authorised adviser.

What if I have several small pots from past jobs?

Moving jobs every few years can leave a trail of modest pots. GOV.UK sets out a ‘small pot’ rule: once you can take your pension (normally 55 at the earliest, 57 from April 2028), £10,000 or less in a single pension can usually come out in one payment, and there is no cap on how many workplace pensions you do this with. Cashing a pot ends the saving, so whether to combine small pension pots is worth reading before you act.

Losing track is the bigger risk. The Pension Tracing Service exists for pensions you have paid into and lost track of. The service gives contact details only and cannot confirm whether you have a pension or its value; it asks for the name of an employer or pension provider. For a pot from a job long ago, the old employer’s name is usually the way in.

What about a defined benefit pension from the job I left?

It stays in the scheme as a deferred benefit. MoneyHelper says you get a guaranteed amount based on your length of service and salary. A final salary pension often carries guarantees that a defined contribution pot lacks, so moving one deserves far more care. The FCA’s consumer guidance is direct: “The FCA and The Pensions Regulator (TPR) believe it’s in most people’s best interests to keep their DB pension.” Where the safeguarded benefits are valued above £30,000, a transfer cannot go ahead until the trustees have confirmed you received appropriate independent advice. With under two years in the scheme, compare any refund offered with leaving the pension where it is.

Keeping details up to date after you leave

Three small jobs make a big difference years later:

  • Your contact details. Keep your address current with every provider.
  • Your nomination. GOV.UK says you can change a nomination at any time and that it is important to keep your nominee’s details up to date. The scheme can sometimes pay someone else, for example if the person you nominated cannot be found or has died. For what a family can receive, read about death benefits from a workplace pension.
  • A list of your pots. Note each provider, the employer it came from and the date you left.

Questions people ask about leaving a workplace pension

Is a defined contribution pension locked in?

Not in the sense of being lost, since the money is yours. Apart from the short-membership refund above, you normally cannot take it before 55 (57 from April 2028), and the scheme’s own rules may set a later age.

Can you lose your company pension if you quit?

Resigning does not remove what you have built up. A defined benefit scheme has its own rules for short service, so check them with the scheme.

Does redundancy change who owns my old pot?

No, the same ownership rules apply. Redundancy does not lower the minimum age of normally 55 (57 from April 2028); beyond that, the scheme’s own rules decide whether anything can be paid early, so check its booklet or ask the provider.

Can I carry on contributing to the scheme I left?

Possibly, so ask the provider. GOV.UK also says that someone who becomes self-employed or stops working may be able to carry on contributing, and could use NEST.

Do my employer’s contributions come back to me if I take a refund?

No. MoneyHelper is clear that a refund does not include money your employer paid in.

Can I stop contributions without leaving the job?

That is a separate decision. Pausing your pension contributions and opting out of a workplace pension each have their own page.

Cannot place a pot from an old job? An FCA-authorised adviser will ring at no cost if you send this page’s quick form.

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