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Is it worth it?
Eddieneedselp
Posts: 1 Newbie
Hi folks, I have 2 very small pension pots from previous jobs, 1 is about £4000 and the other £12,000. My questions are:
1. should I put them in one pot?
2. who do I get to do thid?
3. how much will it cost if I do?
Thanks.
1. should I put them in one pot?
2. who do I get to do thid?
3. how much will it cost if I do?
Thanks.
0
Comments
-
Firstly:
- What types of pension are they, defined benefit or defined contributions?
- Do they have any sort of spouse provision?
- Do they have any sort of indexing linked to them?
- What are the ongoing manangement charges where they are?
To answer your questions...- Maybe
- Possibly you
- Who knows, possibly nothing
Personal Responsibility - Sad but True
Sometimes.... I am like a dog with a bone0 -
Answers:
1) yes
2) chose a provider
3) £10.320 -
Assuming these are both DC (defined contribution) pensions:
1. Check the charges on each of them. If one is appreciably lower than the other it may be worth doing; if both are high in comparison with what other personal pension arrangements are charging, it may be worth moving both elsewhere. How's the actual performance of the fund, though? May be worth paying a bit more if it is particularly good, so not an easy decision
2. The pension provider to whom your pension(s) will be transferred
3. Probably nothing, but check with the providers of your two current schemes.0
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