Frozen pensions

Summerdays_3

I have 3 frozen pensions from previous employments. How can I transfer these into a single pension I do not have one at the moment.

EdInvestor

If these pensions are final salary ones, they are not frozen.They are increasing by inflation or 5% a year.No need to move them.

If they are "money purchase" pensions It may be sensible to move them into a new pension, in which case you'll have to open a plan. But it may also be that they benefit from low charges and a good fund choice where they are.So step one is to write and ask about existing charges and choice of funds.

Retired_I.F.A.

For a start off you ignore muppets who say there is no need to move retained benefits fom final salary schemes when they know !!!!!! all about the schemes in question. Then you go seek out an IFA. who can conduct a transfer value analysis and advise if it's in you interest to transfer or stick with any of them.

dunstonh

Without any facts any recommendation is going to be flawed. It will be right some of the time in the same way that a clock stuck at 11:30 will be right twice a day.

What is correct is that in a majority of cases, final salary schemes are currently best left alone (a situation that may change in the future). Whether you are in the majority or minority position is something we cannot tell.