Consolidating pensions question

isayhello

Hi, I'm thinking to consolidate an old work pension from Aegon RetireReady to Prudential which is my current work pension.
There are no charges to transfer out and the fund charges are not more expensive. The main reason to change is that I have a lot more fund choices with Prudential than in my Aegon plan. Just wondered if there was any reason not to?
Also has anyone been able to do these transfers online? I've been told by Pru that I need to post them an application form to do this and wondered if these days its not possible to do it online.

Thanks

Albermarle

Normally you can it do it on line with a modern pension , but if the Pru say you need to send off a form then I guess that is what you will have to do . 
There is no specific overarching reason to consolidate or not consolidate pensions in most cases .

Marcon

isayhello said:

There are no charges to transfer out and the fund charges are not more expensive. The main reason to change is that I have a lot more fund choices with Prudential than in my Aegon plan. Just wondered if there was any reason not to?

There are good reasons not to do so but much depends on whether any of these apply to you and/or sway your decision. See https://www.thisismoney.co.uk/money/pensions/article-3550085/STEVE-WEBB-merge-small-pension-pots.html

isayhello

Thanks @Marcon I read the article and it's not a defined benefit pension and there are no charges for transferring out so I think I will do it as I have a broader choice with Prudential.

It's just annoying that the transfer has to be done by postal application form and not online.