Bring your pensions together

Why should I bring my pensions together?

Around 1 in 5 UK workers have lost track of a pension over their lifetime.

Think that’s a lot? We do, too. And if you’ve not been paying attention to your pension, there’s a chance that you’re one of them.

So, how can you get back in charge of your money? Combining your different pension pots can help. It’s easier to keep track of your savings, and easier to work out a pension plan.

Making it easy to manage your pension savings

The benefits of combining your pension pots

Sometimes, you feel more peace of mind knowing that all your savings are in one place, without having to remember lots of different logins, pot values and projections. Sometimes, you just want to know their your money is safe and secure with a reliable provider.

Sometimes, you just want to know your money is being managed by a reliable pension provider.

But combining your different pension pots with one provider could also leave you with more money in your pot – either because your new provider charges less in fees or because your money is carefully invested for the future.

Make sure you look around for a pension provider that does both.

Remember, pensions are investments - their value can go up and down.

Easier to manage
Cut down on paperwork and passwords, and spend less time juggling pots

Easier to check
See how much you’ve saved and how it’s growing with just one click

Easier to track
Get a clearer picture of how much you’re likely to have for your future

See how Nest can help you combine your pensions.

Is Nest right for me?

Choose your next step...

I want to see why people choose Nest

I want to find lost pension pots

I want to transfer a pension pot into Nest

When is transferring my pension not right?

Combining your pensions can make it easier to manage your savings. That said, some pensions come with guarantees or benefits that you might not want to lose.

Here’s when you should do your research before transferring:

If you have a defined benefit or final salary pension: It’s usually worth getting independent financial advice before transferring these pensions, as they offer a guaranteed income for life.

If the other provider charges high exit fees: Most modern pensions don’t charge anything for transfers, but it’s always worth checking. A high exit fee can end up costing you more than you’d save by transferring.

If your other provider offers protected rights: Your pension could give you rights like a guaranteed annuity rate, a protected minimum pension age, or the ability to withdraw more than 25% tax-free.

If your employer is currently paying into your other pension: Most providers won’t let you transfer money out if you’re still contributing.

Your other pension provider will be able to tell you if you’ve got a specific benefit that might be worth holding on to.

If you’re not sure what to do, an independent financial adviser can help you decide whether it’s worth giving up a benefit.

You might be interested in...

What is pension consolidation?

Pension consolidation means combining multiple pension pots together with one provider. It can make your pension savings easier to manage and could even help you save money in fees.

Should I combine my pensions?

Combining your pensions could make your retirement savings easier to manage. It can give you a clearer picture of your savings, cut down on paperwork, and help you keep track of your pension pots in one place. That said, don’t forget to check if the pension you’re transferring has a benefit that’s worth holding on to.

Can I transfer my pension at any age?

In most cases, you can transfer your pension at any age. Lots of people transfer pensions while working, between jobs, or as they approach retirement. Some providers have restrictions, so it's important to check the terms of your pension before making a decision.

Can I combine all types of pensions?

You can usually combine all types of UK registered pensions and any qualifying overseas pensions recognised by HMRC. You might want to think twice about transferring a final salary or defined benefit pension to another provider, as these usually have benefits that are worth holding on to.

Disclaimer: Pensions are investments - their value can go up and down. Past performance is not a reliable guide to future performance. Transfer times vary, and some providers may charge exit fees. Not all pension types can be transferred to Nest.