Tidying up Your Pension Pots

The days of people working their whole career for just one firm are almost a thing of the past. Most people will now work for several different employers during their working lives. As a result, they will often end up with several pension pots of varying sizes, types and with different providers which can be confusing. So how do you know what to do with these different pots when you’re looking to retire?

It’s possible to lose track of these completely and it’s estimated that in the UK there is £400 million in unclaimed pension pots, one or more of which could be yours.

Even when you’ve tracked down all your schemes, pulled the information together and contacted the various providers, it isn’t always clear what your options may be. It could be even less clear what may be the right thing to do with them.  Does this sound familiar?

It’s difficult to make an informed decision if you’re not fully aware of the options you have available and it’s not something that you should rush into either. This is about making sure that your remaining years are as comfortable as possible and that you are able to achieve the objectives you have worked so hard to put yourself in a position to achieve. Whether you’re hoping to travel extensively, do some home improvements or to just be comfortable in the knowledge you will be able leave as much of your pensions to your children and grandchildren after your days, your pension pots can help you achieve these aims.

Since the introduction of the so called ‘Pension Freedoms’ in April 2015, a pension can be far more flexible than it was previously, by offering you full access to your funds as and when required. Unfortunately, many older style arrangements do not offer this option, so you should seek professional advice from a fully qualified and regulated adviser about the retirement options you have available.

For impartial, independent advice, please contact me to discuss your retirement needs and to review your existing arrangements on 01228 690200, or email me

Email Marcus

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