PLANNING
Aggregating your
existing pensions
Many people have had several jobs with different companies, each of which
may have offered a pension.
Typically, when you leave a company, the pension
becomes dormant with no more money invested.
This sits there and should continue to grow, but will
also be subject to annual charges. Your money may
well be invested in places you don’t want it to be
and if you have several old pensions, they are
unlikely to be acting as a co-ordinated portfolio.
If you have a final salary (or defined benefit)
pension, with guarantees, it’s best to leave this in
place or seek independent financial advice at the
very least.
Key points
Most likely, you’ll get a letter through the post
telling you how this pension is doing and you’ll
think “I must do something about that”.
If your past pensions are defined contribution
schemes, it may be a good idea to bring them
together into one place, so you can manage this
money yourself. You may be surprised how much
they are worth if you add them together, but more
importantly, you can take control of this money and
organise your investments to meet your goals.
Aggregating all your dormant pensions
together can help you organise your
retirement plan more effectively
You may be able to improve the performance
of your investments and reduce your costs
It’s easier than you think – Trustnet Direct will
take an instruction to hunt out your pension
plans and move them to your own account
https://www.trustnetdirect.com/fund/transferto-trustnet-direct
www.trustnetdirect.com/fund/transfer-to-trustnet-direct
££
Page 26
££
£