Do you have multiple pensions from different employers? Have you moved jobs a few times and forgotten about some of your old pensions? If you have several pension pots, it might make sense to combine them into one. Here are three reasons why consolidating your pensions could be a good idea.
3 reasons to consider combing your pensions
1. Combine your pensions to make managing your retirement savings easier. When you have multiple pensions, it can be difficult to keep track of them all and make sure they're performing as well as they could be. Combining them into one pension pot can help you stay on top of things and make the most of your money.
2. Combine your pensions to get a better deal on fees and charges. Having multiple pensions often means paying multiple sets of fees and charges, which can eat into your retirement savings. Combining your pensions into one pot can help you save money on fees and charges, so you have more to enjoy in retirement.
3. Combine your pensions to boost your retirement income. If you have several small pension pots, combining them into one larger pension could increase the amount of income you receive in retirement. This is because larger pension pots typically have lower charges and can generate more income than smaller pension pots.
If you're thinking about retirement, we can help you understand your options and make the best decision for your circumstances. Our free service includes a personalised report and access to expert advice, so you can make the most of your retirement savings.
Get started today and see how much you could increase your retirement income by combining your pensions.
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