Old company pensions

Trentenders

I have a couple of work pensions left from previous employments, with probably just a few thousand pounds in each. What are my options for them?

Should I...

1) just leave them to do whatever they will until I retire;
2) consolidate them into my current company pension; or
3) transfer them into a sipp and take control of them myself?

I guess I'm mostly unsure about whether 2 & 3 are possible, and if so, whether any likely transfer charges would be prohibitive, given the low amounts involved. If I did just leave them until retirement, will it be more hassle than it's worth receiving paltry amounts from a couple of different sources? Would they even be worth anything, or would fees likely wipe out the bulk of what little is there?

(I appreciate that I can find a lot out myself if I just give the pension people a call, and I will at some stage, but I am also hoping that you kind folks would give me a heads-up)

Edit: I wouldn't be looking to add to these amounts (in the near future at least) if that makes a difference to option/suggestion 3 (all money currently earmarked for filling S&S ISA allowances)

xylophone

Are these deferred final salary or defined benefits pensions or do they carry any guarantees?

Trentenders

xylophone wrote: »

Are these deferred final salary or defined benefits pensions or do they carry any guarantees?

I'm pretty sure that they are not FS, but I'm not sure DB or the guarantee means. The 13 years I've been paying into pensions has been from the private sector though (insurance companies), if that makes anything more likely. I've always paid a small percentage of my wage each month and had my employer contribute also.

mgdavid

you need to understand what type of scheme you have been paying in to; you need a copy of the Scheme Rules for each one in order to be able to make the decisions you want. Start by looking for internet sites if the companies are still going, otherwise google for addresses of scheme Trustees and phone them up for a copy.