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  • FIRST POST
    • Tomo10
    • By Tomo10 13th Jan 20, 6:48 PM
    • 2Posts
    • 0Thanks
    Tomo10
    Move from Peoples Pension to Royal London?
    • #1
    • 13th Jan 20, 6:48 PM
    Move from Peoples Pension to Royal London? 13th Jan 20 at 6:48 PM
    Hi,
    The company that I used to work for enrolled me into the Peoples Pension, which appeared to be a good performer in the top ten rankings. My Boss has since sold the company to a larger one which has set up a Work Place Pension with Royal London, which is also performing well so far. I previously moved (rightly or wrongly) my small pension pots into the People's Pension after advice (not payed for but reliable).
    Question: should I now move my Peoples Pension pot over to Royal London? It totals about 110,000 atm.
    Thanks in advance.
Page 1
    • Andrew31
    • By Andrew31 14th Jan 20, 10:46 AM
    • 60 Posts
    • 32 Thanks
    Andrew31
    • #2
    • 14th Jan 20, 10:46 AM
    • #2
    • 14th Jan 20, 10:46 AM
    If its performing well and competitively charged, no real reason to move it.

    Other than less paperwork, but 2 pensions is fine.
    • Albermarle
    • By Albermarle 14th Jan 20, 11:44 AM
    • 2,221 Posts
    • 1,460 Thanks
    Albermarle
    • #3
    • 14th Jan 20, 11:44 AM
    • #3
    • 14th Jan 20, 11:44 AM
    You should first compare the charges to see if there is any significant advantage/disadvantage from this point of view .
    A large employer will probably have been able to negotiate a decent discount , although it might not be obvious from the paperwork. You will need to enquire , probably with RL direct.
    Also although most workplace pensions will accept transfers in , you will need to check before making any decisions.
    As said above though , if there is no obvious reason to transfer , then no big problem having two pensions, especially if they are not just piddling amounts .
    • cobson
    • By cobson 14th Jan 20, 11:54 AM
    • 64 Posts
    • 65 Thanks
    cobson
    • #4
    • 14th Jan 20, 11:54 AM
    • #4
    • 14th Jan 20, 11:54 AM
    With a pot of 110,000 The Peoples Pension will be charging 0.25% if you want to compare with RL
    • Tomo10
    • By Tomo10 14th Jan 20, 7:12 PM
    • 2 Posts
    • 0 Thanks
    Tomo10
    • #5
    • 14th Jan 20, 7:12 PM
    • #5
    • 14th Jan 20, 7:12 PM
    Thankyou all for your input. I will investigate further. I just don't like paying unnecessary admin charges which offsets any positives for having multiple pensions.
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