Very small pension pot

Ted79

Hi just had a pension statement from a previous employer who I worked for less then a year worth nearly £3k would it make sense just to cash it in or just leave to run I’m 44 many thanks

Mark_d

Assuming this is a DC pension, I would transfer it in to your current employer's pension scheme.  If it is a DB arrangement then I'd leave it as it is.

tacpot12

Is the transfer value £3k, or is that the annual pension that you can expect to receive when you retire? If the latter, it's probably worth leaving it where it is. If it's the former, then you are probably better off consolidating it with any other pension money you have already invested. 

FIREDreamer

Ted79 said:

Hi just had a pension statement from a previous employer who I worked for less then a year worth nearly £3k would it make sense just to cash it in or just leave to run I’m 44 many thanks

You cannot touch it until age 55, rising to 57 in 2027.

(unless you have a terminal illness with less than 12 months to live)

How about transferring it to your existing employer pension to keep everything in one place?

dunstonh

 would it make sense just to cash it in or just leave to run I’m 44 

You cannot cash it in at age 44.    

ILoveSkaMusic

Keep it where it is, or consolidate it with another, it probably makes little to no odds really. Just be aware of any annual fees etc and compare them so that you're not spending unnecessary money.

At your age, I would look into the options around which funds your money is invested in.  It might pay you to see how the higher risk funds are performing.  After all you've potentially got 23 years of growth in the account.  Obviously it's down to your apetite for risk, and this is not financial advice!

Grumpy_chap

One option to consider is whether there is any benefit in keeping this separate and possibly utilising the "small pots rules".

LHW99

Another would be to keep it separate and use it to consolidate future work pensions if you are likely to change jobs again in the future.