Should I transfer to a single pension fund?

cd1992

I currently have 3 different pension funds, 2 of which are from past jobs. The old funds have about £20k in total.

Should I look to consolidate these with my current pension fund so it's easier to track what I have? I'm just wary of having bits of pension in different places and if in years to come one or more got lost or forgotten about.

Linton

cd1992 wrote: »

I currently have 3 different pension funds, 2 of which are from past jobs. The old funds have about £20k in total.

Should I look to consolidate these with my current pension fund so it's easier to track what I have? I'm just wary of having bits of pension in different places and if in years to come one or more got lost or forgotten about.

Possibly yes, possibly no - depends on the full picture. Factors such as charges and range of funds available are important. Maybe you have an old pension with generous guarantees.

Why should they get lost or forgotten about? Surely its up to you to manage your own finances and keep your pension managers informed when you move house.

If you want to merge different DC pensions its easy to do. Perhaps easiest if you merge into your current employers scheme. But you need to check that it makes sense.

LHW99

Or if you are likely to move jobs several more times you could merge only the old ones, with a view to transferring employer's pensions into it each time you change employer.
But it does depend on the types, charges, and how proactive you want to be, as said above.

fairyanna

Surely mother couldn't claim any sort of pension (if she had paid no NI of her own)
she would have to wait till father hit pension age.