Merging Pensions.

Giraffe53

Hi, I currently have a Peoples Pension that both myself and my employer pay into which is good but I also have two other pensions, one with the NHS and one from years ago with Eagle Star Insurance ( now Zurich). I have no idea how to trace the last one but should I put all these pensions in the same place for a better return or leave them be until Retirement.
Thank you for any advice 😊

Marcon

The NHS scheme is an 'unfunded' public sector final salary scheme, so you can't transfer it to either your Peoples Pension or your pension with Zurich.

Presumably Zurich don't have your current address or they'd be writing to you each year. Write to them and give your full name (and any previous name), current address, DOB and NI number and ask for up to date info on how your pension is doing. Or try https://www.gov.uk/find-pension-contact-details

Just having pensions in the same place doesn't mean they will perform better. Check charges - if your Zurich pension is quite old it might also be quite expensive, so a transfer to your PP might make sense.

hyubh

Giraffe53 wrote: »

Hi, I currently have a Peoples Pension that both myself and my employer pay into which is good but I also have two other pensions, one with the NHS and one from years ago with Eagle Star Insurance ( now Zurich). I have no idea how to trace the last one but should I put all these pensions in the same place for a better return or leave them be until Retirement.

The NHS one vs. the others is a fundamentally different kettle of fish (DB vs. DC). Since the NHS scheme is unfunded public sector, you couldn't transfer out to either of your DC pensions. Further, assuming you have already left the NHS, or joined the NHS more than a year ago, you can't transfer either of the others into it. On the other hand, if you are (or became again) an active member, then there will be the possibility of transferring in, in which the value of the DC pension(s) will purchase additional DB pension, within the first 12 months of (re)employment:

https://www.nhsbsa.nhs.uk/member-hub/transferring-scheme

As for tracing the old Eagle Star pension, have you contacted Zurich?

https://www.zurich.co.uk/support/eagle-star
https://www.zurich.co.uk/support/gone-aways

Giraffe53

Thank you so much. That all is so helpful, exactly the advice needed.
The links are ideal