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All CollectionsπŸ” The Transfer Process
πŸ“₯ Your current pension
πŸ“₯ Your current pension
James avatar
Written by James
Updated over a week ago

A current pension is the one your employer is paying in to right now.

Penny can get information on this pension just like your other ones, but Penny will never transfer your current pension - this means you can keep contributing to your current pension every month with your employer. πŸ’°

You'll be able to see your current pension in the app, but it will not be transferred to Penny. ❌

When we receive information about your current pension from the pension provider, you will be able to see the value of the pension on the day we found it in your Penny app. This value will remain static and not update with your contributions to it.

The reason for this is that we do not have access to this data. So although the value will remain the same in the Penny app, this will not be the case if you are still contributing to it - do not worry if it's not increasing in the Penny app.

If you leave your current job, your pension will become inactive, or 'paid up', and you can then transfer the pension into your Penny account alongside all your others. βœ…

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