Pension Tracing

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If you’ve ever found yourself asking, “How do I get my old pensions?”. Then you’re not alone. Pension Tracing / Pension Tracking is the process of finding and consolidating your pension funds from previous employment and placing them into a new Pension plan in your own name.

Many people in Ireland often lose track of their pensions due to changing jobs or moving countries, which can make it difficult to access the funds they’ve earned. In some cases, many people are even unsure if they have or had a Pension.

Fortunately, our pension tracing service is available to help you navigate through this. By efficiently locating and consolidating your pensions, you’ll gain a clear picture of your retirement savings and can make more informed decisions about your retirement goals.

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What is Pension tracing?

Pension tracing consists of locating and consolidating your old pension funds from previous employment and placing them into a new or existing pension that is under your control.

Over the course of your lifetime, it’s pretty common to contribute to various different pension schemes, often resulting in multiple scattered retirement pots. Our Pension Tracing Service streamlines the cumbersome task of tracing & consolidation by conducting thorough searching and liaising with multiple pension providers on your behalf.

Through this, we’ll uncover the details of your pensions, including the current fund value, investment performance, and projected benefits on retirement.

By taking advantage of state-of-the-art technology and combining it with our industry expertise, our pension tracing service will ensure that no pension is left behind.

Whether you’ve changed jobs multiple times or simply lost track of your pensions, our team is dedicated to reuniting you with your hard-earned funds.

With True Wealth, pension tracing becomes a seamless journey towards a more secure and prosperous retirement.

Importance of Pension tracing

Finding your old pension isn’t just a matter of curiosity.. It holds significant importance for your financial well-being in the future. Your pension funds represent the accumulation of years of hard work and saving, and it’s essential to have a clear picture of your retirement income.

By finding your old pension, you can evaluate the value of your total pension pot, understand the performance of your investments, and make informed decisions regarding your retirement planning, such as; are you putting enough into your pension?

Consolidating your pensions can simplify your financial management. Having multiple pensions spread across different providers makes it challenging to keep track of your savings and may lead to administrative complexities such as multiple different fees and charges, different risk ratings etc.

By tracing and consolidating your pensions, you can have a overview of your retirement funds in one place, making it easier to monitor and manage your investments effectively.

Tracking down your old pension can also allow you to discover valuable benefits and options you may not be aware of. Such as reducing fees, charges and better allocation rates.

Without locating your pensions, you could be missing out on these advantageous benefits that could significantly impact your retirement income.

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Who is eligible for Pension tracing?

Pension tracing services are designed to assist anyone who has had multiple employments and may have lost track of their pension funds. If you have worked for different employers throughout your career and contributed to separate pension schemes, you are likely eligible for pension tracing.

This service is particularly beneficial if you have changed jobs frequently, worked part-time, or been self-employed. It is also applicable if you have pension entitlements from previous employers that you have not claimed or actively managed.

Pension tracing is not limited to any specific age group or income bracket. Whether you are approaching retirement or still have several years of work ahead, it is crucial to locate and assess your pension funds to ensure you are on track for a secure retirement.

Our pension tracing service caters to people from all walks of life, from Doctors to Pharma Technicians to Self-Employed business owners such as shop owners or professionals working in the IT industry.

We understand the complexities involved in tracking down pensions, and our team of experts is always committed to guiding you through the entire process with ease. Don’t let your pension funds remain unclaimed.

Pension tracing requirements

To start the pension tracing process, you’ll need to provide us with some certain basic information and any potential supporting documents about your employer or pension you may still have.

While the exact requirements may vary depending on your specific circumstances and the pension provider, here are some common items typically requested:

Let us help you track down your previous pension and put it in your control.

Once the pension is traced, what are the next steps?

Once your previous pensions have been located, you might be wondering about the next steps to take.

This is an exciting time in your journey towards securing your full retirement potential. Here’s what you can expect after your pension has been traced:

  1. Pension Report: After tracing your pension, we’ll provide you with a comprehensive online pension report using our state of the art software. This report will contain crucial information about your current pension funds, including, investment performance, projected benefits, and any additional features or options that may be potentially available.
  2. Pension Review and Analysis: Our team of experts will carefully review and analyze your pensions, ensuring you have a clear understanding of your pension funds and the potential options available to you. We will then explain the implications of the report , addressing any questions or concerns you may have.
  3. Retirement Planning Advice: With the information gathered from the pension report, our advisors will provide you with bespoke retirement planning advice tailored to your unique goals and circumstances. We will help you make informed decisions about your retirement income, such as investment strategies, allocation rates, and pension consolidation options.
  4. Pension Consolidation: If you have multiple pension funds, the traced pension(s) can be then consolidated into a single, easily manageable pension in your own name. Consolidation simplifies understanding your pension, your retirement income and visualising your performance, not forgetting the power of compound interest with the combined pension values.
  5. Ongoing Pension Management: We offer ongoing pension management to ensure that your retirement savings continue to work hard for you. We’ll monitor and review your pension funds regularly, adjusting investment strategies if required and keeping you informed of any opportunities that arise.

Can I cash in my pension once it's traced?

Once your pension has been tracked down, you may have the choice to access your pension. It entirely depends on the rules of the policy and your age. Here’s what you need to know about cashing in your old pension:

Age: In some circumstances, you may be able to cash in your Pension from age 50 such as with a defined contribution pension. Contact our advisors today to find out if you qualify.

Pension Options: When cashing in, you have various options to consider. These include for example taking a lump sum, purchasing an annuity, or opting to invest in a PRB.

Each option has its benefits and considerations, and it’s essential to evaluate which choice best aligns with your retirement goals it’s important to get impartial advice from our team.

Business Owners

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Employees (PAYE)

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