Preserved Benefits
It has become exceedingly rare for individuals to spend all their working lives with just one company. As a result, many people may have contributed to more than one occupational pension scheme but for only a few years each. These contributions will have been frozen and any accumulated fund or benefits will be paid out when retirement age is reached.
The accumulated benefits remain preserved when a scheme member leaves the pension scheme, providing the individual has been an active member of the scheme for a minimum of 2 years. Any contributions made for a period of less than two years are refunded plus interest, although deductions will be made to take account of the tax relief and National Insurance concessions given on your contributions.
Alternatively, you can ask to leave your pension rights in the scheme until such time that you wish to transfer them to a new employer's scheme, a personal pension plan or self employed pension arrangement.