Multiple trivial (very) pensions

beckgrangebob

Hello, I've searched the forum and can't quite find an answer to our query. My Wife (63) has worked for a variety of employers over the last 10 years or so since leaving her local authority job, (from which she currently receives a small pension). Consequently she has a number of very small pensions, (each having a transfer value under £100). Her latest employer suggests transferring these into their own pension scheme. Probably a sensible idea except for the fact that the sums involved will probably be wiped out by the transfer costs!...Can anyone cast light on how she would go about cashing in these tiny pensions? We've tried googling for advice but are now more confused than ever. 

Marcon

Before doing anything else, worth reading: https://www.thisismoney.co.uk/money/pensions/article-3550085/STEVE-WEBB-merge-small-pension-pots.html

If your wife decides she does want to transfer her tiny pensions, there may not be any transfer costs - and if there are, it certainly won't wipe them out. Check with the various pension providers what the current 'pot' values and transfer values are. If they're the same, there is no transfer fee. If there is a cost associated with transfer, you can see at a glance what it is.

If she wants to cash them in, she just needs to contact each provider and ask how to go about this.

beckgrangebob

Thanks Marcon, very useful advice. emails to providers on their way!