We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Pensions
Samv7
Posts: 1 Newbie
Hi, I am looking for some advice please, I have several pensions that I have accrued over my career, am I able to consolidate these without it costing me a fee?
Many thanks, Sam 😊
0
Comments
-
Yes pretty easily assuming they are dc (ie not final salary) type pensions. Older pensions may have valuable guarantees that may be worth keeping, but modern pensions tend to have lower charges and more investment choices.0
-
You would need to say what type these are (defined benefit, defined contribution, section 32.......) and who with before you will get much in the way of an answer.
0 -
The answer would depend on the type of pension it is. If it is defined benefit or it has safeguarded benefits and value over £30,000 then you need to seek advice.
Also, don't assume paying a fee will make it more expensive. There are plenty of expensive DIY options. The key is getting DIY right.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 -
Not always a good idea. Read this for some useful info on why keeping more than one pension might make sense: https://www.thisismoney.co.uk/money/pensions/article-3550085/STEVE-WEBB-merge-small-pension-pots.htmlGoogling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.2K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.3K Work, Benefits & Business
- 601K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards