Pension Consolidation Guide

In the UK currently the average number of jobs that an individual has in their working career is 11.

This means that, in addition to other pensions they may establish, they may accumulate a number of different pensions, which can be both cumbersome and very difficult to keep track of.

Our pension consolidation service allows our clients to consolidate their pensions should they wish to do so, into one policy, which is a lot easier to manage and keep track of, and also a lot of the time which can result in a significant saving on charges.

In addition, a lot of older pension policies may not offer Flexi Access Drawdown, meaning that if policyholders wished to take advantage of this, then it would be necessary for them in any event to transfer into a new policy.

Whilst a lot of advice firms apply a relatively high up front charge for pensions consolidation, our company’s policy is that the charge will never be in excess of 1% of the transfer value of the policies being consolidated. When combined with lower ongoing charges, this means that the policyholder’s long term overall position can be significantly improved by pension consolidation with our company.

However, any advice to consolidate pensions is only offered after extensive analysis of the existing pension schemes, in order to ensure that it is in our client’s best interests to do so.