Multiple Non Contributory Pensions?

as400

Have a couple of old pensions from previous employers one worth about £25K and the other about £40K....

My new employer has a decent scheme that I have joined and am contributing to.

Should I leave my old two pensions as they are or transfer them into my current scheme?

Any advantages/disadvantages to leaving them as they are?...no idea what charges etc are being administered.

If I do transfer them will I loose much value?...do the administrators take a slice to keep before transferring the final value?

Just to add I am 51 if that makes any difference?

hyubh

as400 wrote: »

Have a couple of old pensions from previous employers one worth about £25K and the other about £40K....

DC or DB?

Should I leave my old two pensions as they are or transfer them into my current scheme?

If DB, probably the former.

as400

No idea whats the difference?

OK I think DC, I contributed and they matched or they contributed only...neither are final salary type pension plans. Both started and ended within the last 10 years.

pathtofreedom

What are the fee's for the old pensions and the new one?

as400

pathtofreedom wrote: »

What are the fee's for the old pensions and the new one?

Good question!...I should contact them and ask this apparently simple question....am guessing the answer will not be so simple.

atush

Basically, assuming none are DB pensions, you need to look at charges, and investment options, plus any attached guarantees (prob not as these are 10 or less old).

Weigh up the charges/vs options and see if what you are doing now is better value, or not.