Can pensions be merged?

stewartwilliams

I worked for a company for a certain time and built up a small pension pot.
Got made redundant after Covid and found another job which has now finished, but that has a pension pot, not much, just under 3k.
I'm possibly returning to the first company this month, and was wondering if it were possible to transfer anything from the second job over to the first job?

MX5huggy

Yes is the simple answer. 

The receiving pension should allow it. 

You want to check the fees on both if the old one is cheaper you may want to keep that one. 

You could also move it to a 3rd pension because the investment choices and fees are better. 

Albermarle

It is easy to transfer simple DC pension pots ( which is probably what these are ) from one pension provider to another .
Just ask the scheme you want to transfer into it to transfer in the other one. It is easier if you do it online ( you should have been given on line access) .

MallyGirl

if they are standard dc pensions then yes you can transfer pension 2 into pension 1.

eskbanker

As above, transferring should be possible but may not necessarily be the best thing to do, in that there is a certain amount of additional flexibility available (at access time) with 'small pot' pensions below £10K, so keeping multiple smaller pensions may be better than consolidating....

ex-pat_scot

eskbanker said:

As above, transferring should be possible but may not necessarily be the best thing to do, in that there is a certain amount of additional flexibility available (at access time) with 'small pot' pensions below £10K, so keeping multiple smaller pensions may be better than consolidating....

Plenty of providers will segment a larger pension pot into smaller £10k pots for this very purpose. 
It's only really worth worrying about if you are nearing the age of access to your pension.

Marcon

stewartwilliams said:

I worked for a company for a certain time and built up a small pension pot.
Got made redundant after Covid and found another job which has now finished, but that has a pension pot, not much, just under 3k.
I'm possibly returning to the first company this month, and was wondering if it were possible to transfer anything from the second job over to the first job?

Yes, but may not be the best thing to do. See https://www.thisismoney.co.uk/money/pensions/article-3550085/STEVE-WEBB-merge-small-pension-pots.html