Hello everyone! Welcome back to my page and today I’m going to talk about pension. In this paper you will know whether it’s a good idea for you to consolidate your pensions.
The answer is YES you should consolidate your pension if possible.
In the course of a career and jobs, you’ve probably worked for different companies and, that’s a normal thing.
According to a large UK recruitment company, the average tenure for an employee is less than 2 years. It means each company you worked for has its own pension provider.
In short it means that your money is invested between different pension providers. It’s not the end of the world, it doesn’t affect your overall pot and there’s nothing to be worried about. However I found that consolidating everything gives more clarity and is less confusing.
Here’s the steps you need to follow:
- Search for a pension provider. It could be your existing one or new one.
- Start with their pension finder service. This is free of charge once your personal details are provided, they’ll find your pensions.
- Now you have everything under one roof available for investment or withdrawal.
Now I’m going to talk about the benefits of consolidation.
- Potentially reduce fees
- Less paperwork
- You can see your money pot in a single view
I hope you gained clarity and confidence after reading this post.
Cheers,
Antho
Cactus Personal Finance 
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