pension portability

Pension portability allows individuals to transfer or maintain their pension benefits when changing jobs or moving between different pension schemes. This means that instead of losing accumulated retirement savings, your pension rights can be preserved and potentially consolidated into a new plan. Portability provides flexibility, ensuring your retirement savings grow over time regardless of employment changes, and helps you build a continuous retirement fund. It is an important feature for working professionals who change jobs frequently, safeguarding their pension investments from fragmentation or loss.