Guide · Pensions
How to choose a pension consolidation adviser
A consolidation adviser should start by checking what could be lost, not by assuming every old pension should be moved.
Ask about transfer and consolidation experience
Look for an adviser who regularly reviews old pensions and understands the risks of moving schemes with valuable guarantees or features.
What should the process cover?
Existing pensionsIdentify the type, benefits, guarantees and current costs.
DestinationExplain why the proposed new arrangement is suitable.
Total costCompare advice, platform and investment costs.
Retirement planMake sure consolidation supports the longer-term retirement objective rather than only simplifying paperwork.
Check regulation
Verify the firm and adviser before transferring pension money. MoneyHelper recommends regulated advice where a personalised pension-transfer recommendation is needed.
Avoid pressure to transfer quickly
Do not move a pension because of a cold call, unexpected message or manufactured deadline. Pension scams can result in significant financial loss and tax consequences.
Sources & further reading