FAQs
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"What are the assumed growth rates of People’s Pension investment funds?"
See the assumed growth rates of People's Pension investment funds.
"What happens if I leave my employer?"
If you leave your current employer or decide to stop contributing, your employer will tell us the date you left pensionable service and your account remains with People’s Pension.
"Is the £60,000 annual allowance gross or net?"
This is the gross amount including tax relief.
"How much will I get when I retire?"
It’s possible to get an estimate of how much you’ll get from a workplace pension. You may hear this referred to as a ‘pension projection’.
"I’m experiencing an issue with the app, what do I do?"
If you’re experiencing problems with the app, you should try rebooting your phone, logging out and back into the app, or finally try deleting and re-downloading the app.
"Can I get my money back (that I’ve paid in)?"
After your one month opt-out period you won’t be able to access your funds until your normal minimum pension age unless on the grounds of serious ill health (life expectancy is less than 12 months).
"If I want to use carry forward to pay a contribution, do I notify HMRC?"
You don’t need to use a special form or tell HM Revenue & Customs in advance if you want to use carry forward.
"Can I transfer my pension savings with People’s Pension to NEST?"
You’ll need to check with NEST to see if they’re happy to accept the transfer as NEST have certain criteria on transferring in and out.
"How does a unit-linked policy work?"
With a unit-linked policy, any contributions paid in are used to buy units in the investment funds.