Big Zuu is asking you to pay your pension some attention, and so are we. After all, your pension pot is your hard-earned money, which means it’s important to know how much you have.
So, let’s break down what Big Zuu says and why:
We know it’s hard right now with the cost of living rising. Many people are having to make tough choices about how they spend and save their money.
Every payment into your pension pot is topped up by extra money from your employer and from the government, if you’re eligible. When you contribute to your pension, this extra money will add to your safety net for later life.
Want to see how much you’ve squirrelled away in your Nest pension pot already? Log in to your account now.
The average person has 11 jobs over their lifetime. That can mean 11 pension pots to keep track of, some of which may get forgotten about.
To find your lost pensions, go through old payslips and look for old pension statements to see where your pension pots might be. You can also use The Pension Tracing Service, a free resource set up by the government to help you search for contact details for old pension providers.
Once you’ve found all your pension pots, you can either transfer them together with one provider or keep track of them all separately. You’ll find it easier if your providers have the correct contact details for you.
You might have thought about the things you'd like to do when you retire, like travel and spending time with family, but have you thought about the practical steps you need to take to achieve these?
The government provides a State Pension, but this may not be enough for the lifestyle you see for yourself in retirement. It's important to think about when you want to retire, where you’ll live, what you see yourself doing and how much all this will cost you. We’ve got a guide to help you think about what your later life might look like and how much you might need to fund it.
Once you have an idea of the retirement you want and know how much you’ve saved so far, you can use our handy calculator to help plan for your financial future.
Around 8 in 10 UK employees save into a workplace pension. However, with some not knowing how much is saved in their pension pot and others not knowing they even had a pension, it’s clear some of us are confused. Asking questions is key to understanding more about your pension.
You can find out more about your Nest pension on our member help centre. Money Helper also offers free, impartial money and pensions guidance.
We’re proud to be supporting the PLSA and ABI Pay Your Pension Some Attention campaign.
Published 01 November 2022