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Why should I consolidate my pensions?
Why should I consolidate my pensions?

The challenges and risks of trying to manage separate pensions.

Updated over a year ago

Throughout your career, you may have a mix of employment, self-employment, and private pensions you’ve decided to pay into. The challenge is keeping track of them all and understanding how much you have for retirement. That’s why around £26.6 billion is wasted in lost or forgotten pensions. (Source: Association of British Insurers)

Consolidating pensions means bringing them together into a single account, rather than trying to keep track of them individually. This comes with some big benefits:

  • Clarity on how much money you’ve saved in total

  • Less paperwork and admin

  • The potential to reduce the overall fees you pay

  • More control over where your money is invested – and your risk level

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