2 many pensions can you help please?

young_and_dumb

i was just wondering if any1 out there can give me some advice please. i am in a bit off a mess with my pensions i hav 3 of them i took them out when i was younger my 1st 1 at 16 then left that job got another 1 at 21 left that job at 1 at 23 witch i am still paying in 2 is there any way i can get the money out of the first 2 pensions or transfer them in 2 the 1 i have just now i hav been paying in2 this 1 for just over 2 years i would b greatful for any help or advice.

jem16

Depends on the kind of pensions they are.

Are they final salary pensions or money purchase pensions?

young_and_dumb

they are not final salary pensions

Pee

I don't see that having all your eggs in more than one basket is a problem. If one of those companies went under, you would still have the other two.

You are unlikely to be able to have the money out now although you probably would be able to merge them. I'm inclined to think that wouldn't be a good idea. the pension company will tell you what you can do and will let you have statements so that you can see how they are performng.

dunstonh

FSCS protection on pensions is uncapped. So, having it all with one provider or split over many doesnt make any difference.

Combining can often make a difference though as many providers now have fund based discounts. That means the larger the fund the cheaper it is. Some discounting starts from as little as £10k.