Money Minder UK

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How does pension consolidation work?

In Brief: How does pension consolidation work?

Thursday, 02 January 2025

Pensions can be confusing, but there is an alternative way to help keep on top of them

In today’s fast-paced world, many individuals have multiple pension plans collected over their working life. Whether through changes in employment or setting up personal pensions as a self-employed professional or contractor, managing these pensions can become challenging. Not only does this involve significant administrative effort, but the financial implications of juggling numerous plans are also considerable. Some pension schemes may suffer from uncompetitive pricing and underperforming investments, eroding retirement savings.

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