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Transfer or consolidate your pensions

Not many people have a job for life anymore.  These days, we’re far more likely to make several moves in our career – often leaving pensions behind us on the way.

It’s easier than you think to move your pensions into a single place where you can control them.  And you can save a lot of money in the process.

Why transfer your pension?

There are several powerful reasons why it’s worthwhile moving pensions from previous employment into a single place.  These include the chance to:

  1. Reduce the charges you are paying: many legacy pensions are subject to excessive management charges, which eat into the value of your pension pot every year.  By helping you move to a present-day pension fund, Moneycube can help you can drive these charges down.
  2. Control where your pension is invested: when you move your money to a single pension provider, you’ll gain a wide choice of investment options.  Moneycube can help you decide on investment choices that are appropriate to your circumstances.
  3. Obtain better-quality information on how your pension is performing: often, it’s very hard to know how your pensions from old jobs are doing.  Together with your new pension provider, we’ll do the hard work to track your pensions down.  And once your new pension is set up, you’ll have online access to how it’s performing, all in one place.
  4. Restart your contributions: transferring or consolidating your pensions is a good opportunity to re-assess your pension provision, and possibly to add a lump sum or regular contribution.
  5. Access the benefits of your pension from an earlier age: most pension arrangements cannot be accessed before the age of 60.  If your pension is transferred to a buyout bond or personal retirement bond, it’s possible to access the cash from age 50 – including the possibility of taking a tax-free lump sum.


Read on: Moneycube pension blog