More than one pension?

It's entirely possible that you have a number of pension funds scattered around. If you've worked for more than one company, you may have several company pensions and personal pensions.

Where can I find out about my pension funds?

The Pension Tracing Service (part of the Pension Service) will try and help you trace all your pension funds even if you're not sure of the contact details. Find out about the Pension Tracing Service.

Get statements from your pension providers

To get a quote, you'll need to know the value of all the pension funds you want to use to buy an annuity. Call your pension provider for an up-to-date statement.

If you have an Aviva pension fund, you may be able to get the current value of your pension fund at My Account. Just log in or register to see how your fund's doing.

Combine your pension funds

If you have a number of pension funds, it may be worth combining them into one. That way you will have all your funds in one place and you'll only have to keep track of one annuity income payment.

Combining your pension plans may not always be the best option though and, in some cases, it may not even be possible. You can read more about this in the frequently asked questions. You should also talk to a financial adviser about your options.

Check how much income you could get

You can probably take some of your pension fund as tax-free cash and use the rest to buy an income.

We've developed a retirement income calculator to let you see how the size of your pension fund and the choices you make can affect your income.

Retirement income calculator

See how much income you could get from your pension fund.

Calculate retirement income

Related FAQs

What is a defined benefits (eg final salary pension) scheme?

This is a pension scheme where the members are entitled to a certain level of pension benefit. It is defined by a formula which uses the member’s length of pensionable service in conjunction with their salary to help determine benefits upon retirement. A final salary pension scheme is probably the most common type of defined benefits pension scheme.

What is a defined contribution scheme?

This is a pension scheme that has an agreed contribution rate from either the employer, the employee or both. Contributions are known and agreed in advance. Each member has their own 'pot' of money in the scheme. By the time the employee retires, the size of the pension fund will depend on the payments into the scheme and the investment return on those payments. The value of your pension fund could be less than the amount paid in. Other considerations are the length of investment and the effect of any charges payable.

What is tax-free cash?

Tax-free cash is money you can take as a lump sum from your pension fund without having to pay tax on it. You can spend this money on anything you want. You can usually take up to 25% of your pension fund as tax-free cash, although this may not be the case for everyone. For example, lump sums from final salary schemes are calculated differently. For the vast majority of people, tax-free cash will be a feature of their pension plan, but you should check with your pension provider what the rules are for your pension fund. You should also bear in mind that taking tax-free cash reduces the amount you can use to provide an income during your retirement. With Aviva this has to be taken by age 75. Read our 'Can I retire after I'm 75?' FAQ for more information.

If you have more than one pension fund and have already taken tax-free cash from one of those funds, you won't be able to combine that fund with any other pension funds you have. We can give you a quote for each individual fund and you will be able to take tax-free cash from the funds that you haven't yet taken money from. You can also combine any funds that you haven't taken tax-free cash from and get a quote for these funds. It is not always possible to combine your pension funds, please see ‘When is it not right for me to put all of my pension funds together?' FAQ. If you have any questions about this or are unsure what to do, please talk to your financial adviser or call us on 0800 068 4076 to speak to one of our advisers. We can only advise on our own products.

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