Financial Advice When Changing Jobs
A job change is the perfect moment to review your pension, protection, and financial plan — before the old chapter closes.
Your Situation
If you are changing employers and want to make sure you handle the financial transition correctly…
A job change — whether planned or unexpected — triggers a series of financial decisions that are often made quickly and without full information. What do you do with your old workplace pension? Does your new employer's benefits package stack up? Are you giving up any salary sacrifice advantages or protection benefits that you need to replace? These questions have genuinely important answers, and the decisions you make at this moment can affect your financial plan for decades.
Castle Stonebridge helps individuals across the UK navigate job changes with financial clarity. We review your old pension and benefits, assess your new employer's package, identify any gaps, and ensure your financial plan is updated to reflect your new circumstances — so you start the new chapter in the best possible position.
Questions We Answer
"What should I do with my pension from my previous employer?"
Leave it, transfer it, or use a new employer's scheme — each option has different implications for charges, investment, and access.
"Does my new employer's pension scheme and total reward package compare well to my old one?"
Employer contribution rates, death-in-service cover, and private medical insurance can vary significantly — understanding the full value matters.
"Am I giving up any valuable protection benefits I need to replace privately?"
Group life insurance, income protection, and private medical cover from former employers typically end on the last day of employment.
"How does salary sacrifice work at my new employer and should I use it?"
Salary sacrifice pension contributions save both employer and employee National Insurance — using it correctly can materially improve your net-of-tax contribution.
"Should I consolidate my old pension pots now that I am starting fresh?"
A job change is a natural moment to review all old pensions — though consolidation requires careful assessment of each pot's features.
Our Approach
How We Guide You
Old employer benefits review
We assess your old pension, protection benefits, and any salary sacrifice arrangements to understand what you are leaving behind.
New employer package comparison
We compare your new total reward package — pension, death in service, income protection, private medical, salary sacrifice — against what you are giving up.
Protection gap identification
We identify any personal protection benefits (life insurance, income protection) that need to be arranged privately to replace lost employer cover.
Pension decision and plan update
We advise on the best course of action for your old pension, and update your overall financial plan to reflect your new financial circumstances.
Key Considerations
What you should know before making a decision
- Employer-provided group life insurance (death in service) and income protection cover end when you leave your employer. If you have health conditions that would make individual cover more expensive, arranging personal policies before leaving is important.
- If your previous employer operated a defined benefit pension, you should understand the implications of leaving the scheme — including deferred benefits, revaluation, and whether a transfer might be appropriate.
- Salary sacrifice pension contributions save National Insurance for both employer and employee. If your new employer offers it, using salary sacrifice is typically more efficient than personal contributions for most employees.
- Pension contributions made through your old employer's scheme continue to be invested after you leave — the pension does not stop growing. However, you will no longer receive employer contributions, which is the primary financial cost of leaving.
Talk to an independent adviser — no obligation
Castle Stonebridge is FCA-regulated and wholly independent. We are not tied to any provider, which means our advice is guided solely by what is right for you.
Book a Free ConsultationYour initial consultation is completely free and carries no obligation.
Common Questions
Frequently Asked Questions
Ready to get the right advice for your situation?
Your free initial consultation is completely without obligation. We will listen, understand your specific circumstances, and tell you honestly whether and how we can help — before we discuss fees.
advice@castlestonebridge.co.ukCastle Stonebridge Limited is an Appointed Representative of Rosemount Financial Solutions (IFA) Limited, which is authorised and regulated by the Financial Conduct Authority. Rosemount Financial Solutions (IFA) Limited is entered on the Financial Services Register under reference 535515. Tax treatment depends on individual circumstances and may change.
Investment & Pensions Risk: Capital is at risk. The value of pensions and investments and the income they produce can fall as well as rise. You may get back less than you invested. Past performance is not a reliable indicator of future results.