What to do now?

tacpot12

madwomanintraining said:

I think tacpot12 she was thinking it would be tidier to have them all together and in one pension payment rather than a small monthly payment and several little ones that she will probably cash out as a lump sum.

Even so, having several small payments arriving reliably with inflation protection is potentially better than having a lump sum and no protection from inflation other than what you can get as interest.  

Albermarle

GrumpyDil said:

Marcon said:

GrumpyDil said:

If she has several little ones look at small pots options as merging them to get close to the small pots limit could be useful depending upon how many pension funds she has. 

The 'small pots' regime won't matter to her unless she's planning to contribute more than £10K a year - and there's no evidence that's ever going to be likely, so she could just cash in the two small DC pensions if she wishes to do so.

Good point as forgot that the limit has gone up from 4k to 10k (and friend I was talking to about this last night is very likely to want to pay in more than 10k a year). And the fact OP only has two pots to worry about rather than the several my friend had. Teach me to read the post properly. 

Be aware ( or your friend) that not all pension providers offer the ability to withdraw under the Small Pot Rule. Maybe most do, I do not know exactly.