I am

Exploring my pension

Choose the future

Five years, ten years, two years away from reaching your retirement age? The more time you allow to plan for your retirement the better, as there some big decisions to consider. We’re here to help you as you create your own retirement plan to ensure you make the most of your pension. Click one of the below to start your journey.

The basics

How to avoid pension scams

Last updated: 
May 10, 2021
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Model your options with our Pension Options Calculator

Last updated: 
March 1, 2021
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Will you be able to afford the future you want?

Last updated: 
March 10, 2021
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What are State Benefits?

Last updated: 
March 10, 2021
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Finding and consolidating your pensions

Last updated: 
October 1, 2020
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Tax in retirement

Last updated: 
March 10, 2021
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FAQs

GETTING IN TOUCH
How can I make a complaint?

Premier takes complaints very seriously. Please do contact us HERE.

Or use the following contact details.

Email: admin@premiercompanies.co.uk

Post: Premier, PO Box 108, Blyth NE24 9DY

Helpline: 0800 122 3200 (from outside of the UK +44 20 3727 9850)

Opening times: 8.30am to 5.30pm, Monday to Friday

How do I request information

If you need a retirement quotation, transfer out quotation or any other information, we have a variety of dedicated forms listed HERE. Else, you can use our general form HERE.

What are Premier's general contact details?

If you have any questions please get in touch using our online tools, telephone or post.

We have a range of dedicate online forms HERE or you can ask a general question HERE.

Email: admin@premiercompanies.co.uk

Post: Premier, PO Box 108, Blyth NE24 9DY

Helpline: 0800 122 3200 (from outside of the UK +44 20 3727 9850)

Opening times: 8.30am to 5.30pm, Monday to Friday

Who is Premier?

Premier is a multi award winning pension administrator. Our focus is happy staff and a high quality member experience. Please do email, write or call us, if you have any question around the administration of your benefits. We are here to help. If you need any advice however, you need to speak to an Independent Financial Adviser. The government has set up a service to offer free, impartial guidance. You can call Pension Wise on 0800 138 3944. You can also find lots of guidance around your retirement options at www.pensionwise.gov.uk.

UPDATING YOUR DETAILS
How do I update my Expression of Wishes form?

Your expression of wish form tells the Trustee who you would like any death benefits paid to. You should regularly update this to make sure it reflects your current personal circumstances and wishes. It is critical that you keep your Expression of Wishes up-to-date. You can download the form HERE.

How do I update my bank details?

It is very important to keep your details updated. You can update your bank Account HERE or request a form.

How do I update my contact details?

Your benefits are valuable and so it is important to keep your contact details up-to-date. You can update your email address, postal address and telephone number HERE.

How do I update my personal details?

It is very important to keep your details updated. Click here to update your address or marital details.

GENERAL INFORMATION
Can I transfer my pension to a high growth scheme?

There are an increasing number of companies claiming they can offer you high growth investment options outside of your current pension arrangement or help you access your pension as cash early. You need to be very careful if a company says they can do this for you. Often these arrangements can put your savings at unnecessary risk or result in tax charges and penalties of more than half the pot’s value and you won’t be told about this. If you’re concerned you should consider taking advice from an independent financial adviser. The Pension Regulator has more information about this HERE.

Can I transfer out?

You may be able to transfer the benefits you’ve built up into another pension arrangement. For instance, you could transfer them into a new employer’s pension plan, a personal pension, stakeholder pension plan or a buy-out contract. There are various rules around pension transfers and you will need specialised IFA advice if you are in a Defined Benefit scheme and the value of the transfer is over £30,000. Contact us HERE if you would like a ‘Cash Equivalent Transfer Value’ (CETV) statement. You can receive independent advice from The Pensions Advisory Service HERE.

If your scheme or company is paying for our Retirement helpdesk service, you can contact us HERE.

How do I report a death?

You may be entitled to a pension or a lump sum if your spouse, partner, or someone you were dependant on has passed away. Please do let us know HERE, if someone receiving a pension from us has died, or call us on 0800 122 3200 (from outside of the UK +44 20 3727 9850). We will need the member’s name, address, National Insurance number, date of birth and date of death. It would help if you know the member’s membership number and scheme name. Please let us know your telephone number, email address and relationship with the member. We will then be in touch about the next steps.

I'm getting divorced, what should I do?

If you get divorced or dissolve a civil partnership, the courts need to decide how to divide your assets between you and your former spouse or civil partner. When they do this, they’ll take the value of your pension benefits into account. Please get in touch HERE to get details of your pension benefits for divorce proceedings.

Upon my death, what happens to my pension?

When you die, most schemes, will provide your spouse or civil partner with a pension. If you don’t have a spouse or civil partner, your scheme may provide a pension to someone who was financially dependent on you. If we pay a pension to any of these people, their pension may also increase each year in line with inflation.

When can I retire?

The minimum age you can start taking your pension is 55. This is set by the government. However, your scheme may have a higher minimum ‘Normal Retirement Age’, which is usually 65. Some schemes have exceptions due to ill health or protected minimum retirement ages. The latest that you can retire is 75.

PLANNING RETIREMENT
Can I get ill-health retirement?

It may be possible to retire early, if your scheme rules and trustee board allow this. You can contact us HERE, if you believe that you are eligible.

Can I postpone my pension?

You may be able to delay taking your pension. In some cases, it may result in an increase in your monthly payments.

How much do I need to retire?

Everyone is different in terms of when they want to retire and how much they will want to spend. You may spend less on transport to work, upkeep of your children and you may have paid off your mortgage. However, you may want to spend more on holidays and your health. You can access an online budget planner from the Money Advice Service HERE. The Pensions and Lifetime Savings Association has an excellent resource setting out retirement living standards HERE.

PENSIONS AND TAX
How do I change my contributions?

If you are currently employed by the company that sponsors your pension scheme, you may be able to increase your pension contributions or pay ‘Additional Voluntary Contributions’. You may need to contact your HR or Pensions department about this.

How do I login to My Pension Tracker?

You can view your payslip and P60 online. You can log in online by going to www.mypensiontracker.co.uk. You will need your username, password and memorable word. We have previously sent you this login information, but if you no longer have this please contact us and we will resend it. You can request a new password here.

What is Annual Allowance?

The Annual Allowance is the limit set by the government on how much you can save in a pension scheme before having to pay tax. For the 2019/20 tax year, the Annual Allowance is £40,000. This amount is reduced further if you have an adjusted income greater than £150,000 and your threshold income is greater than £110,000. The government looks at a period of time called the Pension Input Period, to see how much the value of your benefits have increased. This increase is known as your Pension Input Amount and is included in your annual Benefit Statement. You need to check that the pension input amounts from all your pension savings do not go above the AA. You may want to speak to an Independent Financial Adviser about this or read more about the detail here.

What is Lifetime Allowance (LTA)?

The Lifetime Allowance (LTA) is a limit on the total value of all of the retirement savings you can take without having to pay an extra tax charge. The lifetime allowance for the tax year 2020/21 is £1,073,100 and it is likely to increase in line with inflation at the end of the current tax year. It is your responsibility to monitor your LTA for all of your personal and workplace pensions. The Lifetime Allowance is not applicable if you are a Dependant or a Pensioner. You may want to speak to an Independent Financial Adviser about this or read more about it here.

What is a Benefit Statement?

If you are still working for a company and a member of their scheme, you will receive an annual Benefit Statement. This shows how your benefits are building up. Some Defined Benefit schemes and all Defined Contribution schemes will also send annual Benefit Statements to members of a scheme, who have left employment.

What should I do if I have tax code queries?

We cannot answer questions about your tax code. If you think you are paying the wrong amount of tax, or if you think your tax code is wrong, you must contact HM Revenue & Customs (HMRC) direct, quoting your National Insurance number (if you have one).

Phone: 0300 200 3300

Textphone: 0300 200 3319

Outside UK: +44 135 535 9022

Opening times:

8am to 8pm, Monday to Friday

8am to 4pm, Saturday

Closed Sundays and bank holidays

Best time to call: Phone lines are less busy before 10am, Monday to Friday

Post: Pay As You Earn and Self Assessment HM Revenue & Customs, BX9 1AS, United Kingdom

When will I receive Payslips?

We do not issue payslips automatically each month. You will only get a paper payslip if your net pay changes by more or less than 2% from the previous month. You can view your payslip online anytime. You will have received a letter from Premier with instructions for logging in via www.mypensiontracker.co.uk. You can request a new password here.

When will I receive my P60?

You will receive your P60 each May. If you do not receive it by 31 May, please contact us and we will send you a replacement copy. Copies of your P60s will also be available online.

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Helpful explainers

Thinking About Your Future

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July 30, 2020

This video outlines how a DC pension scheme is structured and your options to contribute and grow your retirement fund.

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Learn more about Default Investment Strategy

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This video outlines how a DC pension scheme is structured and your options to contribute and grow your retirement fund.

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Pension Increase Exchange

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July 16, 2020

This video outlines how a DC pension scheme is structured and your options to contribute and grow your retirement fund.

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