Consolidate pension for 0.1% AMC saving - worth it ?

Dave360180

Would you decide to consolidate an old pension pot into a new one if the new one had an annual management charge of 0.1% less ? Any comments welcome.

Thanks

kidmugsy

Depends on size. It can be comforting to have two different providers, not just in case of fraud etc, but in case of IT collapse and other ordinary nuisances.

Albermarle

For me I could not be bothered to change for that amount but maybe that is just laziness.
Anyway a couple of things to look out for :
The management charge is one thing but the fund charges might be different , even for the same fund sometimes .
Do they both offer the same ability to drawdown? Some do not even offer the facility at all or only in a restricted way .
Customer service levels van also vary widely.

dunstonh

Would you decide to consolidate an old pension pot into a new one if the new one had an annual management charge of 0.1% less ? Any comments welcome.

The charge is a secondary part of the decision making process. Primary concerns are the functionality of the pension and the investments. So, how do those compare?

Dave360180

Many thanks all, some interesting points that actually led me to decide to do nothing.