Your guide to pension consolidation: The pros and cons you need to know

Category: News

Do you have multiple pensions? It could make it difficult to manage your pension savings during your working life and when you retire. In some cases, consolidating them could be beneficial.

This guide explains what you need to know about transferring your pension savings, so you have fewer pots to manage. It could help you feel more in control of your retirement and, in some cases, reduce the amount you’re paying in fees.

However, there are reasons why consolidating your pension may not be right for you, including:

  • You have a defined benefit (DB) pension
  • Your pension has additional benefits
  • You may need to pay an exit fee
  • You could benefit from using “small pot” privileges. 

DownloadYour guide to pension consolidation: The pros and cons you need to know now to read more about pension consolidation and understand if it could be the right decision for you.

If you have any questions about your pension or retirement, please get in touch.

What our clients say

Having dealt with various financial advisers in the past, both Gary and Kate give a far more personal service and explain things clearly. They take the time to understand what we want from financial planning and they have the knowledge to advise us in a variety of different aspects. Although we have only been clients from just before retirement, I would have no hesitation in recommending them to anyone of any age and we have absolutely no regrets in switching to Lifeplan.

Colin, Nottingham

A client since 2016

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