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Combining Pensions


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I have a number of small pension pots

 

 

  • Prudential (Personal)
  • Friends Provident (Personal)
  • Standard Life (Ex Company)

I would like to combine them all to save on charges and to maximise the growth. I contacted a advisor who explained the charges and got me to sign the forms to get the facts from each firm. Then sweet FA happened, one email and no reply, second email was answered with an apology but no calls and they just haven't bothered to contact me. I'm thinking of doing the combining myself but what do I need to do, contact the companies for transfer values and what else. Any help would be most welcome.

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Hi I specialise in retirement advice, charges are the key here. How much is this guy charging but by the sounds of it you are sick to your teeth of him although he may think its just not worth his while so is just letting you dangle on. Transferring all of it yourself is possible into a SIPP with one of the major players and its not going to cost you a huge amount but when it comes to investing thats when it will cost you and its all under your responsibility i.e. you have to change funds, pick funds etc. Also Standard life are likely to be able to help you with this as they have a sales arm which will do it all for you but you will be one of many i.e. no personal service etc. If I was going to do it we would prob use someone like Scottish Life, cheap and effective they have governed portfolios which match your attitude to risk and they are actively monitored meaning they move with the market trends and dont just sit in a fund and hope for the best.

 

None of this is advice I have to say its just an option for you

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