joining pensions?

[ninjasuperted]

I was wondering if any of you have joined together 2 or more pensions into 1 without the help of a financial advisor, who would like to charge £500 for the privilege.

Is it a pain to do. ?

Hello, i used to work in this sort of area and it can be very straightforward to do. However, there are certain rules that apply to pension transfers (such as the type of money and whether you have taken any benefits from it) so you would need to speak to both companies holding the pensions to make sure that they are happy for the transfer to proceed.

If you get your paperwork out before you call them, then they should be able to confirm over the phone in theory whether the transfer is possible. You will probably need to fill out forms for both companies. They will liaise with each other to effect the transfer and then write to you to confirm when it is done

There may be further paperwork and it could be very quick or it could take ages! I combined all of my pensions a few years ago and it took about a month for it to all be finalised. I did it all myself but only felt comfortable doing this because I had a bit of knowledge of it. I probably would have spoken to a friend with experience or something otherwise.

Good luck!

Thanks for your reply. So with a bit of patience, research and paperwork it should be possible.