Could you benefit from consolidating your pension pots?

Not all of us stay in the same job our whole lives. That can mean lots of pensions with different providers. It might make sense to bring them all together into one pot.

 

Here's why:

  • You've got everything in one place. So you know where your retirement fund is when you need to access it
  • It's easier to see how your pension is performing
  • You'll pay charges on one pension instead of several, which could save you money
  • You could end up with more investment options to choose from, depending on the pension product you choose

 

Is combining pensions right for you?

Combining different pensions isn't right for everyone. You might lose certain benefits by changing policy. You might have to pay a charge to transfer to another product or provider. And remember, there's no financial guarantee. The total value of your pension funds won't necessarily increase if you bring them all together.

 

Helping you think about how to consolidate your pensions

Think carefully before you make any decisions - what you decide now could affect the retirement lifestyle you want. Talk to a financial adviser. They'll help check all your options so you can make the decision that's right for you.

 

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Useful links

  • Compare pension products

    This at-a-glance table will help you compare the benefits of the different pension products we offer. 

  • Choosing the right pension

    There are lots of pension types to choose from, so it's worth taking time to understand which one is right for you.

  • Accessing your account online

    My Standard Life lets you access online information about your policies and accounts. It's a simple, convenient way to track how your policies are performing.