Discover the benefits of Pension Consolidation in this latest article from the financial advice experts BulbFin.
The Association of British Insurers (ABI) estimates that more than 1.6 million pension pots worth £19.4bn are “lost” – the equivalent of £13,000 per plan!
Most of us will work multiple jobs during our careers, accumulating several pensions as we go. Having these scattered makes them hard to manage and control.
Pension consolidation is the process of combining some or all of your pension pots into one single pot. This can be extremely beneficial, because having multiple means.
1. It’s very easy to lose track of a pension pot!
2. Every pension pot will be subject to a management fee, potentially costing you a lot more than a single pension
3. Smaller pots may lack the investment choices/diversity of one larger, well managed pot
4. It’s harder to access your money when it’s scattered in several pension pots
5. There is a higher likelihood your pensions will underperform
Discover the benefits of pension consolidation in the infographic below!
Find out whether pension consolidation is right for you by contacting Bulbfin today.BulbFin Pension Consolidation Infographic