3 Pensions.. What to do?

[TheAngryDog]

I have 4 pensions - Aegon(2), Nest and Royal London. The Royal London one is my current one with my employer.

I have various amounts in each one (Aegon most, Nest then RL). Is it best to move all of the funds to my current pension or should I just leave them as they are?

[Monkeylegend]

I moved my Aegon pot to the PruFund last year, Aegons performance was very disappointing, less than 5% growth in 3 years or so.

The PruFund on the other hand grew by 15% in the last year and a much more professional company to deal with.

[raceboy]

I really should start thinking/worrying about mine, currently got 3 pension pots that will collectively amount to very little I imagine but it'd be nice to not lose them and have them all in one place but no real idea where to even start.

Paid into 2 company schemes many years ago and currently paying into the new work based scheme.

[rsbmw]

Monkeylegend said:

I moved my Aegon pot to the PruFund last year, Aegons performance was very disappointing, less than 5% growth in 3 years or so.

The PruFund on the other hand grew by 15% in the last year and a much more professional company to deal with.

A pension is just a wrapper, investment performance completely depends on what assets you have invested the money in...

On that same note, I can't see a good reason not to consolidate them to the platform with the lowest fees.

[Gio G]

I also have a number of pensions that I need to consolidate, Aegon being one of them. I read recently they have an appalling track record in transferring people's funds, they take some 2-3 times longer than the industry average..

I suspect if the funds are performing well and the fees are low, leave them where they are?

G

[Monkeylegend]

rsbmw said:

Monkeylegend said:

I moved my Aegon pot to the PruFund last year, Aegons performance was very disappointing, less than 5% growth in 3 years or so.

The PruFund on the other hand grew by 15% in the last year and a much more professional company to deal with.

A pension is just a wrapper, investment performance completely depends on what assets you have invested the money in...

On that same note, I can't see a good reason not to consolidate them to the platform with the lowest fees.

I know. The PruFund investment spread is much broader than Aegon and they seem to be more on the ball in relation to current market conditions. They are more proactive in monitoring and adjusting the investment spread than Aegon ever were.

I would be wary of investing purely on a fee scale. The PruFund fees are a bit higher than Aegon but more than offset by a vastly superior performance. Pay peanuts get monkeys as they say

[rsbmw]

So you were in some sort of default portfolio and relying on them managing it for you - that makes more sense.

Otherwise you can invest in the same funds through both providers, the differentiator is how much they charge you.

[Monkeylegend]

Yes, it's a managed fund based on your attitude to risk.

It's a good job it's not left to me to manage