Combine all your pensions into one
Many people move jobs several times and pay into various pensions over time. It can be difficult to keep track of your retirement savings pot and see how each of your investments are performing. Consolidating your pensions allows you more control over your funds and makes it much more simple to keep track and check. There’s less administration and you can save money too.
What is pension consolidation?
Pension consolidation is the process of combining all/most of your separate pensions and placing them all into a single pension.
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Finding a lost pension
Firstly, calculate the number of companies where you’ve worked throughout your life. You’ve likely amassed a varying range of pensions from all your various employers.
If you have lost track of your pensions from any of your past employers and need to track them down, the government offer a free pension tracing service, which you can access by heading over to https://www.gov.uk/find-pension-contact-details.
If you are in this predicament, then pension consolidation could be a good way for you to take control back of your pensions. We recommend that you seek advice in this area and would be happy to help discuss in further detail with you and provide a complimentary initial consultation.
Just as it sounds, you will be combining all of your different pensions into a single account where you’re able to make all of the investment decisions yourself and see exactly how much your pension pot is worth at any given time.
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