We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 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!
Combining Pensions

MEEKUS
Posts: 37 Forumite

Hi, I have several small pension pots thanks to several jobs I have had in the past.
Whats the best way to know if combining them all into one pot is a smart thing to do? And if so how do i do it?
Whats the best way to know if combining them all into one pot is a smart thing to do? And if so how do i do it?
0
Comments
-
https://www.thisismoney.co.uk/money/pensions/article-7411619/Should-merge-old-pension-pots-one-scheme.html
You are going to have to do some research.
Have you made a list of all your old pensions?
Have you noted whether each pension is Defined Benefit or Defined Contribution?
Do you have a current value for each one?
If all DC with no special features, would you wish to consider a transfer into your current workplace pension if this is possible?
0 -
As long as they are all standard DC pensions, and you have decided what you want to do , then the actual process is very easy . You just ask the pension you want to transfer in to start the process ( obviously you have to give them the other pensions details ) . There is no need to contact the scheme you are transferring out of.
Normally the transfer will arrive in cash and then you have to decide how to invest it ( possibly just add to the existing investments)
This is a good resource about pensions.
Pensions and retirement | Help with pensions and retirement | MoneyHelper
0
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351.3K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.8K Spending & Discounts
- 244.3K Work, Benefits & Business
- 599.5K Mortgages, Homes & Bills
- 177.1K Life & Family
- 257.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards