Consolidating your old pensions with Moneyfarm can simplify managing your retirement savings.  It could reduce fees, give more flexibility or offer wider investment choices. However, there could be valuable benefits in your old plans, so consider all factors before transferring. Moneyfarm’s Find, Check & Transfer service can do these checks for you so you have peace of mind when you combine old pensions.

Check that you won’t lose any guarantees or safeguarded benefits if you transfer. This could include things like guaranteed annuity rates, guaranteed income or additional death benefits. Take a look at your current pension scheme to assess the fees you’re paying and whether any exit fees or penalties that your existing provider may charge should you choose to transfer. It’s also important to consider the investment options available to you. For more information on what you should know about your existing pensions before you transfer, please read our key considerations page.

Tracking down forgotten pensions can be tricky. Start by gathering old payslips or contacting previous employers for pension plan details. You can also try Moneyfarm’s Find, Check & Transfer service, as we can locate lost pensions for you.

Transferring a pension should be straightforward, but it depends on the old plan. Always check for exit fees or any benefits you may lose before you start a transfer. Moneyfarm’s Find, Check & Transfer service can do all the hard work for you when transferring your pension, including checking for penalties and benefits.

You can do it yourself if you know all the pension details, or you can research and track down pensions yourself, using the government’s pension tracing service, then initiate the transfers directly with your providers. Alternatively, we can handle the entire process for you. Moneyfarm’s Find, Check & Transfer service can help you find your old pensions, check for any penalties and benefits, and then complete the transfers.

Some pensions, particularly defined benefit plans, offer guaranteed benefits you might lose upon transfer, we can’t help with these types of pensions. We can only transfer defined contribution pensions, but they could also have exit fees associated with moving your old pensions to a new plan or benefits you would lose if you transfer. Moneyfarm’s Find, Check & Transfer service can help you identify benefits and penalties before transferring your pensions, giving you confidence when planning your financial future.

Workplace pensions generally allow transfers after you leave your employer, but not while you and your employer actively pay into that plan. Check your plan documents or contact the provider for details. Moneyfarm’s Find, Check & Transfer service can also help determine if your workplace pension can be transferred.

Unfortunately, your National Insurance (NI) number cannot be used on its own to help find lost pensions when using government services, you would usually need to also give your old employer or pension provider. However, Moneyfarm’s Find, Check & Transfer service can help you find lost pensions with only a few details, including your NI number.

You can usually transfer a personal pension, but some workplace pensions may have limitations.  Always check the specific plan details to determine transferability. Moneyfarm’s Find, Check & Transfer service can help assess if your pension can be transferred.

Not all pensions can be transferred.  Certain plans, like defined benefit final salary pensions with valuable guarantees, might not be suitable for transfers.  Weigh the pros and cons before making a decision. We can’t help with defined benefit plans.

Financial advisors are not mandatory for pension transfers. However, they can be helpful for navigating the process, giving you confidence and peace of mind. Moneyfarm’s Find, Check & Transfer service can be a good alternative, offering support throughout the process and expert advice.