Multiple pensions

foden24

I've got about 4 or 5 different pensions from previous employments.
Would it be better to transfer them all into one?.
If so, do I start a new one? or see if I can combine them with my current employers pension scheme?

Albermarle

I've got about 4 or 5 different pensions from previous employments.
Would it be better to transfer them all into one?.

There is no problem to have multiple pensions but combining them into just one or two , does make the admin simpler. Also it is possible that with an increased amount you might get a better discount .

If so, do I start a new one? or see if I can combine them with my current employers pension scheme?

You have to keep your current employers scheme. So you could combine the others into that ; start a new one or combine the old pensions into an existing one .

Suggest as a first step you find out the charges for each , including your current one.

xylophone

What kind of pensions? DB? DC?

Marcon

Don't be in a rush to do so just to 'tidy things up' - read this first: https://www.thisismoney.co.uk/money/pensions/article-7411619/Should-merge-old-pension-pots-one-scheme.html

Albermarle

What kind of pensions? DB? DC?

To the OP - for now ignore my comments , I should have clarified this point first . If you are not sure what DC ( money purchase) and DB ( final salary) mean, follow this link;
https://www.moneysavingexpert.com/savings/discount-pensions/#need-9