Consolidating Your Pensions

Afternoon all! :rocket:

In our latest blog post, we’ve been looking at the benefits of consolidating your old pensions.

We talk about how combining your pensions means all your money will be in one place, how it makes managing your pension much easier, how you can choose from better performing funds, and lastly how it could give you access to lower fees.

How do you manage your pensions? Do you move your pension across when you start a new job? Consolidate all your old pensions into one plan? Or just leave them all where they are? :laughing:

I move them across as and when. It’s just easier. Combining them is a possibility but I’m not so sold on Pensionbee yet.

Ooo what is it about PensionBee that hasn’t convinced you?

Just their company age. I don’t hold that against them but it’s something I note when thinking about combining services.

They have funds managed by some beasts which is good but I’m not sure how aggressive some of them are. I go for high risk high return currently.

I will consider this and then look if there is a reward in Emma or there is a better reward to be referred.

I’ve been looking to consolidate my old pensions into a Vanguard SIPP. Primarily because my other investments are already there and they offer low management fees.
Not sure how it works as I have my current pension setup through Scottish Widows with work. Anyone done this before?

Also with regards to PensionBee, I agree with the other poster, and also that they charge high management feees (0.7% IIRC?)

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