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Change job, change pension provider

Hi.
I have changed the job recently.
Again.... My employer has to enrol me their pension provider.
Currently, I have small amounts of my pension keep with different pension providers.
I just wonder if there is a super way to transfer all my money from separate providers to actual one (pension provider with my employer where currently keep job).
I have called to some of my pension providers and they said, there was no possibility to do that.
Is it only me or the government didn't think about people who change the job regularly?

Who knows how many pensions providers I would have when I will go for retirement.
Will I remember all of them? And what is more important Will they remember about me, the person who put 200 pounds for retirement 20 years ago?

I would feel very comfortable if I had only one pension and also have a possibility to change provider to new one or keep the old one with every change of job.

What do You think about this?
Maybe there is a special way to do it and no one told me about it.

Comments

  • JoeCrystal
    JoeCrystal Posts: 3,001
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    Worth asking about this on the main pension forum: http://forums.moneysavingexpert.com/forumdisplay.php?f=19

    Since hardly anyone visit this forum.
  • HappyHarry
    HappyHarry Posts: 1,554
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    KimerCP wrote: »
    I just wonder if there is a super way to transfer all my money from separate providers to actual one (pension provider with my employer where currently keep job).
    I have called to some of my pension providers and they said, there was no possibility to do that.

    That's unusual, unless they were defined benefit pensions.

    Speak to your new pension provider, and they are likely to be able to produce forms that could help you transfer your previous pensions to your new one.

    Bear in mind, the old pensions may be better than the new one, so it might not be sensible to consolidate them from a financial perspective.

    KimerCP wrote: »
    Will I remember all of them? And what is more important Will they remember about me, the person who put 200 pounds for retirement 20 years ago?

    Why not keep a list of the providers and policy numbers? Every time you change address, let them know, the same way as you would with your bank accounts.

    Yes they will remember you. They are looking after £200 of your money. They are legally obliged to make sure it is safe for you.
    KimerCP wrote: »
    I would feel very comfortable if I had only one pension and also have a possibility to change provider to new one or keep the old one with every change of job.

    (i) You should be able to combine them at each move into the new one.
    (ii) You should be able to keep the old one and start a new one.

    Currently, an employer is unlikely to want to pay into a different pension scheme for each employee as it adds time and cost to a business. However, this may change in the future.
    KimerCP wrote: »
    What do You think about this?
    Maybe there is a special way to do it and no one told me about it.

    It's common for people to retire with many pension pots, and it's not an issue.

    However, combining them is fairly straightforward, as long as you make the transfer requests via the new pension provider, not the old ones.
    I am an Independent Financial Adviser. Any comments I make here are intended for information / discussion only. Nothing I post here should be construed as advice. If you are looking for individual financial advice, please contact a local Independent Financial Adviser.
  • Thank You very much HappyHarry.
    Your answers are helpful. I will speak with my current employer about my pension.
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