Workplace pensions

[MyPurpleHeart]

I have 4 workplace pensions from the last 20 years of working. I have moved about a bit to further my career

I was looking to transfer them all into my current pension but someone has suggested that my current employer would stop their contributions if I did this.

I'll be honest I'm a bit clueless and google is throwing around lots of different answers. What's the best thing to do with them? Consolidate them all into one? Do I transfer them into the current workplace one or a private pension?

Any advice from someone with a bit of knowledge would be greatly appreciated!

Are they defined benefit or contribution pensions?

If the later, then definitely roll them into your new workplace pension. Your employer won't even know you've done it and it won't affect your current contributions.

If DB, you'll need proper advice, try moneyhelper.org.uk which is a free government service.

New one on me, the idea of the employer stopping contributions if you transfer old pensions on. Not sure they would even know, plus auto-enrolment surely means they have to make a minimum level of contributions.

MoneySavingExpert is a good source on pensions and there is a pensions board on their forum populated by extremely knowledgeable people.

I've rolled pensions before and my employer still made contributions so its simply not true to say the employer contributions will stop!

was looking to transfer them all into my current pension but someone has suggested that my current employer would stop their contributions if I did this.

If it is a master trust or a GPP your employer won't even know.

Before you transfer anything check if any of your old schemes have any guarantees or other valuable benefits no longer available in newer schemes. Seriously, don‘t just transfer stuff for the sake of it.

“someone has suggested that my current employer would stop their contributions”

Who is “someone”?
Do you have good reason to trust their pension knowledge?
Does your employer accept transfers in?
Why on earth would you Google this instead of just asking your employer?

You are making life very hard for yourself.
Speak to your employer’s pensions administrator.
Get all your paperwork together for the previous pensions and understand what you have.

Yes just check with your employer or the scheme administrator. I think there may be confusion with the advice you have received. If you transfer everything OUT of your current company pension that effectively closes it and your employer will stop contributing. I can't imagine any issues with transferring IN. I have done this myself.

Totally agree. It's easy to be persuaded to have all your pensions together for simplicity but you may lose benefits that exist under some older schemes that don't exist under your current scheme. You don't need an advisor you just need to read the paperwork before making any changes.

This is the free government advice line and website. Give them a ring?

maps.org.uk/

If the individual pensions are below £10k you might not be better off moving them into your workplace one because of the "small pots" rule. I recommend you check for yourself but I think you can cash these in in full tax free rather than only 25% tax free. I could be wrong so please do double check.