We recommend that you find out if your new employer has a company pension scheme and whether they make payments to it. If they do, it may be in your best interest to join the scheme. If you are unsure, we strongly recommend you seek financial advice.

You can keep your existing plan and continue to make payments to it. You can pay into as many pension plans as you want, however, if total payments to all of your pension plans exceed your annual allowance you may have to pay a tax charge. You can find more information on the HMRC website.

Tax legislation may change, the information here is based on our understanding as at April 2020. Your own circumstances and where you live in the UK will also have an impact on tax treatment.

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