Transfer pensions or leave them?

ler01kjh

Hi,
I have had various part time jobs, and on each occasion have always opted in for a pension so long as the employer is making contributions.

The downside is that I now have several deferred pensions.

I have a pot of money with Tesco, USS, a University pension scheme, and John Lewis pension.

I am still a member of both USS and John Lewis, but the first is just a small part time job, while the second JL does not contribute currently.

How do I decide whether to transfer the funds from the Tesco and university pension into USS or JL? Is there any way of knowing which might be better investments? Do I end up losing money when a transfer value is calculated?

Any advice welcome.

EdInvestor

The USS is a final salary scheme (and a very good one) so I wouldn't touch that.

What type are the other two?

There's no problem with having three pots - especially when they are with top quality providers like these.Any deferred f/s scheme is growing by the rate of inflation, so you're not losing out.,

If any of them are money purchase, it is sensible to keep an eye on what the money is invested in to make sure the funds are performing well.

jamie304

I read somewhere that USSs inflation linking is capped (at I think 3%). So if you are young it might not be advantageous to having it sitting around for 40 years. It depends what the JL scheme is like.

ler01kjh

Tesco is DC, University one is DB as is John Lewis.