We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Combining Pensions

Options
I currently have several pensions - one with Scottish Widows, another Standard Life and another with Enhance. In total they add up to around £30k.
My current pension with my employer is through Nest - would the wisest idea be to combine all these into one pension pot with nest. Any advantage or disadvantage to doing this - other than to make life easier that all in one pot.
Hands up - I really dont understand very much about this subject :(
Many thanks -

** btw I am 46

Comments

  • Mnd
    Mnd Posts: 1,699 Forumite
    1,000 Posts Fourth Anniversary Name Dropper
    Nest doesn't always get good reviews on here.
    No.79 save £12k in 2020. Total end May £11610
    Annual target £24000
  • Marcon
    Marcon Posts: 14,311 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper Combo Breaker
    Simplicity has much to commend it, but sometimes it isn't everything. Check the charges on each of your pension funds. How have they been performing in terms of investment returns? Are you making active choices about where you invest, or just going with the default options?

    I don't think many people would recommend using NEST as a consolidation vehicle. It has an unproven track record in terms of administration and the upfront charge for new contributions is a strong deterrent - ditto the lack of choice of investment options.
    Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!  
  • NI_BOBS
    NI_BOBS Posts: 78 Forumite
    Part of the Furniture 10 Posts
    Thanks both for replies. Maybe best left alone then as relatively small pots.

    Workplace with Nest so really no option there .
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.8K Banking & Borrowing
  • 253K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.8K Work, Benefits & Business
  • 598.6K Mortgages, Homes & Bills
  • 176.8K Life & Family
  • 257.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.