New Job - New Pension Provider - Consolidate?

Jon_B_2

Good Morning,

I recently moved companies, all going very well. Currently employer will match my contributions up to 4%, however they used a different provider to my last employer.

My previous pension which today has a measley £2,500 in it is kept with The Peoples Pension by BC+E

My new pension provider is Standard Life.

Question is, is it worth moving those fund into my new pension just so it is all in one place or is it better to have multiple pensions?

IanSt

Do they both have the same charges or is the new one cheaper?

If the new one has similar charges and it has a range of funds that you are happy with, then if it were me then I'd definitely be thinking about transferring them into the new one.

In fact given the small amount in the first pension, I'd be definitely thinking of moving them unless there was something there that compensated for the additional paperwork etc you'll have with keeping two.

lisyloo

Jon_B wrote: »

Question is, is it worth moving those fund into my new pension just so it is all in one place or is it better to have multiple pensions?

Does your old pension have any advantages e.g. guaranteed benefits.
Does it have either low charges or high penalties.

If any of the above applies it may be best to keep it where it is (I have one where the penalty is 40% - can’t remeber the correct acronym - mvr?)