Moving pensions?

[geeks]

I have two tiny work place pensions from where I changed job etc, both have around £1200 in then each, as I am not really fussed about what happens to them is this something I can move into a Vanguard personal pension? Is it really worth doing for such diddly amounts?

[okgo]

Yes, easily. And up to you.

[trickywoo]

Yes get them moved.

Small amounts can easily be eroded to nothing through excessive fees and underperformance.

[geeks]

Thanks both, I'll have a poke around

[mids]

Yep, it's all very easy. It only took 13 days to move a small work pension from Aviva into my Vanguard SIPP, just give them the details and they do everything for you.

[C69]

Do you already have a Vanguard personal pension?

If not, bear in mind that Vanguard's new Account Fee structure comes into effect at the end of this month. You'll be paying £4 per month if the value of your pension is less than £32k. So, if you've got £2,400 total in your account, you'd be paying a 2.00% platform fee.

[mikeiow]

okgo said:

Yes, easily. And up to you.

I suspect it is easiest if both ends are part of Origo Options ....& I imagine most half-decent pension companies will be.

I moved 3 of my smaller pots perhaps 15+ years ago. Very straightforward, & easier to ensure those small sums do some work if they are part of a pension you actively care about!