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Aviva to NEST? Good idea?
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Chappers27
Posts: 97 Forumite
I am 47, and have a pensions problem. I dont have big enough pension and am only now considering my options. I know, too late. Anyway, I have NEST workplace pension and an AVIVA pension which I dont contribute to. I am considering moving my Aviva pension pot into NEST so its all in one place. Good idea or a bad idea?
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Aviva to NEST? Good idea?
Interesting way round. Its normally the other way.
With the research you have done, what do you think makes the NEST pension better than the Aviva one or any other alternative?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
As a general rule, consolidating pensions is not always a good idea. There has to be some reason to do so, other than tidiness.The comments I post are my personal opinion. While I try to check everything is correct before posting, I can and do make mistakes, so always try to check official information sources before relying on my posts.0
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Not all Aviva pensions are the same and they have evolved over time , mainly charges have gradually got lower. So first you need to find out the charging structure of the Aviva pension.
Then compare that to the low annual charge in NEST ( 0.3%) and any transfer in is free.
The number of funds NEST offers is low (8) but is enough for a lot of people.
However if you ever think you might want to contribute extra to pensions in future , the NEST one charges 1.8% f each payment where Aviva will not have this charge ( but probably a higher annual charge )
Charges are not the only criteria to evaluate pensions but they are important.0
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