Pension Consolidation
You already have your pension arrangements in place. You may have several different
pension providers from previous employment or personal pension arrangements. It
can often be beneficial to consolidate these into a single pension plan. Doing so
makes it much easier for you to obtain a value on your total pension savings, produce
an accurate retirement benefits illustration and importantly it can also significantly
reduce charges. You can even tailor an overall investment strategy to your individual
needs.
Most people, during their career, accumulate a number of different pension plans.
Yet maintaining separate plans can be complicated - and may lead to lost opportunities,
exposure to risk and higher costs.
Consolidating your pension could make managing your pension less time consuming,
ensure your asset allocation is consistent with you attitude to risk and goals,
add flexibility and provide one management charge.
The advantages of consolidating your pensions include:
- It can make managing your pensions easier and less time-consuming
- With only one plan to keep track of, monitoring the performance of your pension
fund is simpler and quicker.
- With many plans to maintain, it can be difficult to assess whether you have the
right asset mix, or if your investments are too cautious or too risky.
- It becomes much clearer whether your level of contributions and overall retirement
funds are appropriate.
- You can remove plans that are inconsistent, inflexible or inappropriate to your
needs in favour of a single plan that's best for you.
One of our experienced consultants will discuss your requirements with you in order
to fully understand your needs. We then represent you and will act on your behalf
to investigate and find the best available pension on the market.
Your adviser will contact pension providers to establish which company best
suits your needs and after thorough discussions will obtain you the pension quotations.
We will aim to provide this information within 24 hours, and can arrange to email
or post the quotation and any additional information to you. Once you have the quotation
at home, you will be able to consider it and make a decision on how you wish to
proceed.