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Pensions
Pensions

Here, we talk about pensions. Ask questions about how to invest in a pension, types of pensions, SIPPs and anything else. Feel free to talk about anything pension related.

Hi @M Cha36, yes you can! Just reach out to your employer's pension provider and inform them of the transfer. You need to ask them if you should apply through them or your current provider. They'll give you all the information you need. Stakeholder pensions are normally free to transfer, but double check with your provider first! There's also no minimum investment period for stakeholder pensions. You can transfer at any time. This doc from Pension Wise has all the info you need - https://www.pensionwise.gov.uk/en/transfer-pension66  

Hi, to track down all your pensions, you need to contact your pension providers, the government’s Pension Tracing Service40 or your former employer if it was a workplace pension.

If you’re contacting your former employers, the Money Advice Service has created a template letter you can send to your former employers. The key details you’ll need to provide to your employers include:

  • Your National Insurance number
  • The date you stopped working there
  • The date you started work with the employer
  • The dates you joined and left the pension scheme

This link to the Money Advice Service website has all the... (More)

Answer
Pensions

There are two things I'd consider:

  1. Fees: If the new provider can beat or match the 0.12% fee, I'd move the pension to the new provider. If the new provider can't, then I'd have to think about logistics.
  2. Logistics: If you don't move it to the new provider, you'll have to manage two pension accounts and possibly more if you keep changing jobs. Is that something you can handle? Or are you the kind of person who'd forget about the old pension account?

I'm not sure if any of these open banking fintech companies aggregate pension accounts the way they... (More)

Using Vanguard Investor (my personal choice of platform) - SIPP’s are the same cost as ISA‘s.

Both have platform fees of 0.15% up to 250k and can invest in the same funds in both e.g VUSA which is 0.07%.

Total fees of 0.22% which is very low!