Merge pensions?

SerNZ

Hey guys

Started getting my house in order. I'm 37, started contributing to an Aviva group personal pension plan (stakeholder friendly) this month. Contributions at 4.5% of salary matched by employer.

I also had 2 pensions from previous employer I am not contributing to:

Clerical Medical group pension plan - £0 protected rights, approx £3800 non-protected rights, approx £3900 transfer value.

Halifax FS stakeholder pension plan valued at £915.

I'm meeting next week with a FA from the company that setup our group personal pension plan at work to talk about merging.

Any pointers or advice to learn more about the pensions and my options? I'm planning to take 1-2 years out next Sept to complete a masters, so I'm not sticking with my job for much longer, that's going to have an impact on my financial planning.

Cheers

kidmugsy

Which Sept do you mean by "next Sept"? The custom differs in different parts of the country.

jamesd

Worth joining the work scheme to get the employer matching. Probably worth combining the pensions but into whichever one has the lowest ongoing costs for the investments you want to use. That might not be the current work plan, but it could be.

Some work schemes have charges that go up once you stop working there, worth finding out if that applies to the current work one. Might be a clue that it's worth considering transferring out of it once you leave this job.

SerNZ

kidmugsy wrote: »

Which Sept do you mean by "next Sept"? The custom differs in different parts of the country.

Ah, meant Sep '14

kidmugsy

SerNZ wrote: »

Ah, meant Sep '14

It's the funniest thing, don't you think, that the country isn't even agreed on what "next Sept", or even "next Saturday", means?

Moreover, as far as I can see most people are unaware of the fact.

bigfreddiel

SerNZ wrote: »

I'm meeting next week with a FA from the company that setup our group personal pension plan at work to talk about merging.

let us know the result of you meeting