Consolidating other pensions with your workplace pension
Please note this blog post was published over 12 months ago and so may not include the most up-to-date information, for example where regulation around investing has changed.
Consolidating pensions is a quick and easy process, giving you the advantage of viewing all of your pensions in one convenient place.
You may find yourself accumulating several pensions over your career. Inevitably, people change jobs, and end up paying into different workplace pension schemes. The disadvantage of this is that you may lose track of your pensions, potentially even forgetting about the existence of older pensions.
You’re also missing out by not having one view of your total retirement contributions. By consolidating your pensions into one, you benefit from an overall view of your retirement contributions and investment performance. This can help you to track your retirement journey, helping you to decide how much money and time you’ll have to put towards building your pension pot and meet your retirement goals.
Also, consider how charges could mount up across multiple investments. This takes away from your eventual retirement fund and could mount up to be a significant sum over many years. By consolidating into one pension you are benefiting from just one, potentially lower charge. That means more of your money is going towards your retirement.
You also stand to benefit from better potential growth by consolidating pensions. By transferring out of poorly performing pensions and having one single pot, you gain access to more opportunities for potential growth.
Clearly, consolidating into one pension can be advantageous. And the great thing is, consolidating is a quick and easy process. At True Potential Investor, we do the hard work for you, and there are no transfer fees from us.
There are two easy ways to transfer a pension to us.
You can complete the whole process online by logging into your account or get in touch with one of our expert team and they’ll take a few personal details and the relevant policy numbers.
We’ll then work with your current providers to arrange the transfers.
Consolidating your pensions with True Potential Investor means one view for your retirement savings plan, your investment managed by our expert investment team, and 24/7 online access with our award-winning technology. Do more with your money, consolidate your pensions today.
This should not be construed as advice