Pension consolidation

659

Has anyone used or can recommend and site to search and consolidate pensions, as an agency Driver I've worked for many agencies following work and have been inducted into many pensions.. Pensions Bee was recommended but have no knowledge, as scams are rife nowadays, thankyou

Albermarle

Almost any modern pension provider will welcome new customers and the transfer in of multiple other pensions, as long as they all straightforward DC pensions, which seems likely.
It is easy to sort out yourself online.
Pension Bee is just one of these many companies.

Brie

Aviva have a pension search function if you're not sure what pension might be out there with your name on them.  Not sure if Pension Bee has a similar function.

Marcon

659 said:

Has anyone used or can recommend and site to search and consolidate pensions, as an agency Driver I've worked for many agencies following work and have been inducted into many pensions.. Pensions Bee was recommended but have no knowledge, as scams are rife nowadays, thankyou

Have a look at https://www.moneyhelper.org.uk/en/pensions-and-retirement/pension-transfers-consolidation for impartial, helpful information.

Albermarle said:

Almost any modern pension provider will welcome new customers and the transfer in of multiple other pensions, as long as they all straightforward DC pensions, which seems likely.
It is easy to sort out yourself online.
Pension Bee is just one of these many companies.

I think 'easy' depends on how much you know about pensions. I doubt the phrase 'straightforward DC pension' means much to @659. If you're unfamiliar with the jargon and the processes, it is rather more of a challenge, so OP needs to be prepared to put in the time and effort to familiarise themselves with the mystical world of pensions. The good news is that once you've made one or two transfers of defined contribution 'pots', light does dawn fairly rapidly!

Saver73

I used Pensionbee since 2019 until earlier this year, to consolidate a number of pensions from previous jobs and everything worked fine, though a couple of pensions did take a long time to transfer.  Pensionbee sent regular updates and I was always able to speak to them on the phone, or contact them online.  I moved away from pensionbee earlier this year due to their increased charges.

I transferred everything into my current employers pension with Scottish Widows and unfortunately there were alot of issues. I personally wouldn't choose them as a provider. I'm sticking with them now as the charges are very low (being discounted) and I'm hopefully 5 or 6 years away from retirement.

Do you have a current pension you could transfer into?  Otherwise you could just pick a pension provider based on what is important to you. e.g. charges, customer service, etc

The main things to check before transferring are exit fees, any special benefits and some types of pensions can't be transferred.

Saver73

Also this link contains useful information

https://www.moneysavingexpert.com/pensions/should-i-combine-my-pensions/

659

Thankyou all for your quick responses very much appreciated