Pension Consolidation Adviser in Cambridge

During your working life, on average, people move every seven years. This means you could end up with 5 or 6 different pensions to keep track of.

KEEPING TRACK OF YOUR PENSIONS

Should I consolidate my pensions in to one pot?

If you have changed employer several times during your working life, you may find it hard keeping track of your pensions and there’s even a risk that some older or smaller pots of money go unclaimed.

When you move home or your circumstances change, including getting married, having children, and getting divorced, it also means you have to inform several different pension providers. Wouldn’t it be much easier to just have to inform one? Therefore, consolidating your pension in to one pot can make a lot of sense.

The options include transferring previous employers’ pensions in to your current workplace pension, or if you are self-employed, or take a more active interest in how your money is managed, you may prefer to set up a separate pension over which you have more control and use that as your pension consolidation vehicle.

implications to consider

We guarantee to help you make the right decisions

There may also be other implications to consider. For example, the death benefits, Inheritance Tax, safe-guarded rights and entitlements to state benefits and long term care planning, to name a few.

Each and every person with a pension scheme will need to review their options accordingly, and if you’re thinking of consolidating a pension pot worth £30,000 or more, you should seek professional advice.

Although it should be simple, it’s usually not. Therefore, don’t risk it and talk to us. We guarantee to help you make the right decisions about securing your financial future.