Small amounts in few pensions. Want to combine them ???

paul2louise

xylophone said:

You have a new LA job?
Would LGPS accept your other pensions?

I have another job in a local authority school. They said I should be able to pay in I think. I havent got the details yet. So when I start in 2 weeks I will try and find out. 

paul2louise

Albermarle said:

I looked for a pension advisor and I can't find one as the amounts are too little. Most have a threshold of 50k or even 100k. 

Pension Bee are not the cheapest but they make it easy for you ( although it is pretty easy anyway)

https://www.pensionbee.com/how-it-works

I will have a look at pension bee. Thanks

paul2louise

I recently started a nutmeg stocks ISA. I know they provide a pension service. Are they similar to pension bee

Albermarle

paul2louise said:

I recently started a nutmeg stocks ISA. I know they provide a pension service. Are they similar to pension bee

Yes similar but before you do anything you need to check if transferring them into the LGPS scheme would be better.
The LGPS scheme is a final salary /guaranteed income scheme, and if they allow you to buy more pension income with the transfers this will probably be the best bet . However without all the info it is difficult to know.

paul2louise

Albermarle said:

paul2louise said:

I recently started a nutmeg stocks ISA. I know they provide a pension service. Are they similar to pension bee

Yes similar but before you do anything you need to check if transferring them into the LGPS scheme would be better.
The LGPS scheme is a final salary /guaranteed income scheme, and if they allow you to buy more pension income with the transfers this will probably be the best bet . However without all the info it is difficult to know.

Thanks. I am not going to rush into anything now. I wanted to get an understanding and when I start my new job I will make enquiries about the LGPS that I am part of. The chat on here has helped me a lot. I now know I need to ask some questions and have a better idea of what is going on. 

paul2louise

I have contacted the onlinemoneyadvisor about my 2 Aviva pensions and I will sort out my LGPS separately when I have started my new job.