Transfer pension funds ?

keepsim

Hi,

I'd pension funds (scottish widow) of around £6500 from my previous employer and with new employer around £14000 (Legal & General).

Consider me I know nothing about pension funds my question is -

1. Is there any disadvantage in moving funds from my previous employer pension company to new ? In terms of any fees or loosing any benefits.

2. or any advantage of keeping funds in single pot ?

3. Are there any difference between two pension funds Scottish window vs L&G in this case ?

Only reason I'm asking this is I'd like to keep things simpler meaning keeping money into single pot (many would say its wrong idea).

Cheers

dunstonh

1. Is there any disadvantage in moving funds from my previous employer pension company to new ? In terms of any fees or loosing any benefits.

If there are no safeguarded benefits and no transfer penalties and the new scheme is lower cost and offers suitable investments then no.

2. or any advantage of keeping funds in single pot ?

Some plans have fund based discounts. i.e. the higher the value, the lower the charges become relative to the fund.

3. Are there any difference between two pension funds Scottish window vs L&G in this case ?

You havent mentioned the funds. Just the provider names. However, there will be differences in investment options and charges.

atush

Examine your documents, call your pension companies.

Ask abt valuable guarantees attached, charges, funds available. Then decide who is best.