A familiar story...
Every time you move on to a new job, you might leave behind a stranded pension pot from the old one. With an average of 11
different jobs throughout your working life, the trail can become quite long.
So it’s no surprise that people often decide to bring all their pensions together, under one roof. Suddenly everything is
simpler. You’re likely to have more control, more flexibility, and you’ll only need to deal with one company.
After all, isn’t one pension just… easier?
Wait a second. But transferring takes… how long?
Which is it?
The rumours around pension transfer times vary wildly.
Here we’ll dispel the myths, covering the tricky and unexpected questions you might encounter along the way.
Is transferring a good idea?
Transferring your pension could be a good idea if:
- You want to consolidate all your pensions in one place
- Your pension scheme is not good value for money
- You want a pension with more investment choice
- Your pension scheme is closing down
If it looks like you could be better off, you can transfer your pension to another registered pension scheme.
Consolidating your old pensions could give them a new lease of life. And that could mean a better life for you
A clear overview
Multiple pensions can make it difficult to understand how much you’ve saved, where you’re invested,
who to speak to. Consolidating puts everything at your fingertips.
One provider. One website. One phone number. One set of login details. In minutes, you can find out
how much your pension is worth, where it’s invested and make any changes.
Potential for greater returns
Most traditional pensions restrict you to a handful of investments, which can limit the potential for better
returns. Modern pensions give you more choice. And the better the investments you choose, the bigger
your pension pot when you retire. Investments can fall as well as rise in value, so you could get back
less than you invest.