Should I consolidate my pensions?

Pensions aren’t what they once were. Life and the patterns of employment have changed a great deal since the time when people used to hold the same job for most of their working lives. Nowadays, many clients will approach me after having held a few different jobs in their lives and ask me “should I put all my pensions together?”

It is not uncommon for people to file their annual pension statement in a drawer without much thought, before one day deciding that that they should probably learn how much they’ve accumulated. More than once, I have had clients arrive with carrier bags full of neglected pension paperwork. If this sounds like you, you’re not alone.

As chaotic as this might sound, it’s not a problem. As a financial adviser, all I require is the provider’s name and your policy number in order to write to the provider on your behalf. Should you consolidate your pensions? Maybe. Should you review them at the very least? Definitely.

If you’re concerned that your knowledge of pensio