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Frozen Pensions

Saving for a pension takes a very long time and is vitally important for our old age. By the time most people retire in late middle age, it is highly likely that they will have had many different jobs. When someone leaves a job to go elsewhere, they will typically stop paying into their company’s pension scheme and start paying into one with their new employer.

The pension scheme left behind is then “frozen” as you are unable to contribute any further funds to it. Also known as occupational frozen pensions and preserved pensions, frozen pensions are “frozen” until the person reaches retirement age which in the United Kingdom currently stands at 60 for women and 65 for men.

If you require assistance regarding a frozen pension, The Pension Bureau can help.

What can I do if I have a frozen pension?

If you have a frozen pension, you have various different options available to you.

Perhaps the most popular of these is releasing the capital in the pension fund so that it can be used before you retire in whatever way you wish. One way of releasing up to half the value of the frozen pension from a previous employer is by taking out a pension backed loan. Doing this would then give you a quick solution to any urgent financial needs you may have.

It is important to highlight the fact that this option is not available for frozen state pensions as they don't currently qualify. Frozen state pensions differ from frozen occupational pensions in that they are the “freezing” of state pensions by the British government of pensioners living in certain foreign countries. They are often confused as they both tend to be referred to simply as frozen pensions.

This is by no means the only option available to you and The Pension Bureau can provide you with other options regarding your frozen pension should you wish.

The Pension Bureau can help

If you'd like to discuss a frozen pension scheme with The Pension Bureau and the various options open to you, simply fill in the contact form to the right of the screen and we'll get back to you at a time that's most convenient.

If you require an immediate call back from an adviser


Client Feedback

  • Many thanks to The Pension Bureau team for the impartial advice given. I have a number of frozen pensions along with my company pension, my best option was to transfer my frozen pensions into the company pension and take advantage of employer contributions

    Jenny Caldwell
  • Thanks to The Pension Bureau for their expert advice regarding my pension otions, it turned out I was best leaving my final salary pension where it was, with my former employer.

    Jack Wallwork
  • Thanks to the Pension Bureau team for untangling my many private pensions. With their expert help and advice I now have one pension that give me the best returns and will significantly out perform my old pensions.

    Simon Haslam
  • The Pension Bureau gave me unbiased expert advice on my company pension and highlighted areas where I could achieve better returns. Resulting from their advice I now feel confident and re assured by pension provisions are in good shape to see me through my retirement.

    Michael Taylor
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