Old pension

[mdpis3]

Does anyone know anything about pensions? I had one about 18 years ago (when I was 18) for a couple of years. It was one of those employer/employee contribution ones. Anyway, there was maybe £3000 in it when I opted back into SERPS in about 2000/2001. Where has that £3000 gone? Would it have been reabsorbed by the government because I went back into state pension? Or is it sitting somewhere and with the new laws, I could get access to that money now? I know a friend recently cashed in their pension but I am completely confused and don't seem to be getting anywhere with the numerous companies who have "owned" this private pension over the years (can't go back to old employee either as they liquidated). Any thoughts?

It will still be there, you will need to contact the pension provider and they can tell you the current value etc. You can decide to keep it to pay out on your retirement (obviously it will be quite a small amount), pay more into it, transfer it into another pension etc. I'm not sure if you can cash it in, think it depends on the terms.

The government offer a free pension tracing service if you don't have up to date information www.gov.uk/find-lost-pension

If you are over 55, and track it down you could cash it in in April, when the new pension laws come in. You may be able to cash it in before then but that depends on what other pensions you have. You must be over 55 though and you may have to pay fees to cash it in if it is an old pension, it depends on the small print.

Oh I just see that you are in your 30's so don't think you can access it without paying quite a lot of tax on it,

it is still there although you'll need to keep worrying at it. Try the pension tracing service.

don't cash it in, you'll pay lots of tax and lose all the future tax benefits.