Pension transfers, where to start

[IanG1]

Looking at getting some things in order for the future and I have 3 separate pension pots from previous employment with transfer values of around £75K in total. I am approaching my 53rd birthday and currently have a pension with my local government employer with approx 22 years of contributions to date. My plans are to look at leaving my current full time job and taking some part time work from 55 and top up my earnings from the current 75K pot (would be looking at around £500 a month if I can draw down) then take my LGP when I hit 60 when some of the penalties are reduced. I have no mortgage (long since paid off) and no other debts.

Where do I start consolidating into one pot and is what I am talking about actually achievable. I have other savings in various ISA's and S&S ISA totalling around £60K so access to other cash if I need it along the way.

Bit of an open question but just trying to get my head around things, fed up with the rat race and lost a few good friends and family recently so time to think about more me time and less work time.

[halo34]

Whilst touching your DB pot is more complicated (dont think thats what your suggesting)

What form are the other 3 in?

If you have a fund in mind to consolidate into then normally you request a transfer from the pot your going to, may be some paperwork involved in the process etc.

But it will get complicated if they are defined benefit or defined contribution, in my limited knowledge.

[IanG1]

The other three are not defined benefit, Two I have not paid anything into for years and the other I believe is an AVC which I currently contribute £60 a month to and the largest of the pots at £50K and held with St James Place.
I don't wish to do anything with my final salary LGPS just get to 60 and see the options from there.
This is more about bridging the gap, giving me some options and possibly putting all the other pots under one roof

[Mr Pointy]

The technical process of moving a DC pension is usually fairly straightforward. You sign up with you chosen new pension provider, give them the details of your existing pensions & they will do the work of transferring the funds across. Before you do that though you should check your existing pensions for any potentially valuable benefits & in the case of SJP any potential costs & charges of transferring.

At the very least get a transfer value for each of the pensions & assess how they have been performing as it may be they are doing well, in which case you might want to leave them in place. Watch out for benefits like guaranteed pension values or annual increases as these can be valuable.

Have a look through this thread & consider contacting Nik for a chat:
https://www.pistonheads.com/gassing/topic.asp?h=0&...