Combining pensions

How many pensions do you have?

Quite a few? It could make financial sense to combine into a single pension plan. As well as being able to keep track of your investments at a glance, you may end up paying less in charges.

Transferring isn't for everyone. Speak to your financial adviser or contact us directly on 0845 272 8810. Call charges will vary.

Bringing your pensions together

Why bother? Because if you transferred your pensions to a single plan, you could get:

More control

A single set of figures makes it easier to review performance. Their combined total will mean more accurate forecasts of your retirement income too.

Greater choice

You may be able to choose from more investment options.

Fewer charges

Instead of a charge per pension, one set of fees could save you money and it may make it easier to see how much you are paying.

You’ll also get one point of contact at Standard Life. And with your pension available to manage online, you’ll be able to keep track of its progress and make changes whenever you want.

Find out more about Standard Life

Is combining pensions the right move for you

It's a complex decision that you need to make, and you may need advice. Some of the key questions you need to consider are:

Will you have to pay an exit fee?

You should check and see if your existing plan has an exit fee and what the amount is.

Could you lose valuable benefits?

Yes, if your existing plan has valuable benefits such as guarantees, reduced charges, or other features that may not be available under your new plan.

Do you have a final salary plan with a company? (sometimes referred to as Defined Benefits)

Generally the extra benefits and guaranteed retirement income offered by these schemes mean that it makes sense to leave them where they are.

Will you really save money on costs?

Check the documentation for new and existing pensions to be sure.

Moving your pensions to us

Just give us a call or speak to your adviser. We can take you through a few quick questions which may help you decide it's the right thing to do.