pink piggy representing pension savings

Tanya Jefferies for This is Money website reports that since auto-enrolment and the accumulation of pensions with each new job, one of the most common questions asked of Steve Webb, former pensions minister, is that of whether to merge old pension pots into one…

“Savers tempted to ‘tidy things up’ by combining smaller retirement pots could inadvertently make themselves worse off, warns a former Pensions Minister. There is a natural tendency to want to merge old pensions, but first research their benefits and any exit penalties, and consider getting expert help to avoid the pitfalls, suggests Steve Webb…”