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Should I transfer money on Smart Pension to Peoples Pension

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Hi Guys
Im just trying to sort out numerous pensions. 

My husband has a sum of £2791.16 in a Smart Pension, he doesn’t pay into this anymore.  His workplace pension is with Peoples Pension, he currently has £15,071 here and continues to pay into it through work.

I was thinking of transferring so  that he has them together. But don’t want to of it would be detrimental. 

Would appreciate your thoughts
thank you Jo

Comments

  • MallyGirl
    MallyGirl Posts: 7,201 Senior Ambassador
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    do the people's pension charge any fees on transfers in?
    I’m a Senior Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
    & Credit Cards boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
    All views are my own and not the official line of MoneySavingExpert.
  • Brie
    Brie Posts: 14,715 Ambassador
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    also what are the fees on both?  If the Smart Pension has significantly lower fees then it might be nice to keep it separate so that it can be taken at a different time than the other.  It also might be able to be taken all in one go as a "trivial" pension.
    I’m a Forum Ambassador and I support the Forum Team on Debt Free Wannabe, Old Style Money Saving and Pensions boards.  If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.

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  • dunstonh
    dunstonh Posts: 119,680 Forumite
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    Peoples pension and smart pension are so similar its like comparing two granny smith apples.
    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.
  • JOBEN
    JOBEN Posts: 91 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    Thank you, I will look into the fees etc and make my decision from there 
  • Albermarle
    Albermarle Posts: 27,871 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    Smart charges 0.3% + £1.25 a month
    PP charges 0.5% with discounts as the amount held gets bigger.

    For the amounts involved these very small charge differences will have little impact.
    Both are happy to accept transfers with no charge.

    OP - More important is that you OH has the right investments for him/his age within the pension. Both providers websites have good info about the investments available and how they work.
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