Three Pension Plans..

deviousdame

Hi Guys,

I have no knowledge on pensions at all and was just wondering if it possible for me to merge three seperate pensions that I have from my last three employers?

I'm pretty sure last time I asked my HR Manager about this around 5 years ago she said it was not possible..

seems ridiculous that I have to deal with three different lots of paperwork and try and keep all these companies updated every time I move house??

any advice appreciated

Thanks Damian

HAPPY NEW YEAR 2007 !

EdInvestor

Hi Damian

Depends on what kind of pensions they are.

If "final salary" it's usually best to leave them where they are.If "occupational money purchase" or "group personal pension, then you can amalgamate them if you want.

Before deciding on the wisdom of this you need to obtain info on the funds the money if invested in and their performance, plus alternative fund options, the charges payable at all the schemes, and transfer values of the pensions.

Then you can seek help on what to do.

deviousdame

EdInvestor wrote:

Hi Damian

Depends on what kind of pensions they are.

If "final salary" it's usually best to leave them where they are.If "occupational money purchase" or "group personal pension, then you can amalgamate them if you want.

Before deciding on the wisdom of this you need to obtain info on the funds the money if invested in and their performance, plus alternative fund options, the charges payable at all the schemes, and transfer values of the pensions.

Then you can seek help on what to do.

many thanks,
I'lll look into what type they are

cheers, damian