How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Rakhi Vasavada Your Own Question

Rakhi Vasavada
Rakhi Vasavada, Financial Advisor
Category: Finance
Satisfied Customers: 4496
Experience:  Attorney and Financial Expert. Have specialization in Financial Laws.Practice experience of over 13 years
43581946
Type Your Finance Question Here...
Rakhi Vasavada is online now

I'm wondering whether it is best to put all of my

Resolved Question:

Hi, I'm wondering whether it is best to put all of my pensions in one pot or to keep them where they are? I do not earn much. My salary without bonus is £40,000. I am 45 years old and have worked at 5 companies so have 5 pensions, namely with Aegon, Barclays
(Tower Watson?), Standard Life, Hargreaves Lansdown (where I currently am) and one for when I worked at Rabobank. Thanks.
Submitted: 1 year ago.
Category: Finance
Expert:  Rakhi Vasavada replied 1 year ago.
Dear Friend, Hello and welcome. Thank you for providing an opportunity to assist you. What you are referring to is "consolidation" of pension pots. Consolidation of pension pots has it usual advantages. You will not have trouble monitoring performance of five different funds. Also, you, at this age, has ample time to judge that if you carry on with your present situation of all your pots, what appreciation you are likely to see in future. However, you need to know that if the pots are performing nicely at present, you need not consolidate it. I would suggest you to kindly check if the pots are earning / performing satisfactorily. If yes, then you can avoid consolidation at this age and can do it later. Most people consolidate the pension funds after the age of 50 or 55. The reason is -- if the pots are performing fine, then there is no need to disturb them, incur charges and consolidate. However, if they are NOT performing, then consolidation IS CERTAINLY a very good idea and you can go ahead with that. The following are some informative resources for you. http://www.pensionsadvisoryservice.org.uk/about-pensions/when-things-change/when-relationships-end/Things-to-think-about http://www.which.co.uk/money/retirement/guides/should-i-consolidate-my-pensions/ I am sure this would help. I wish you good luck.You may please leave a positive rating if this helps as this is the only way we are compensated for assisting you. Alternatively, you may revert back with a reply if you need further assistance or if I have missed out on any aspect of your question.Warm Regards,
Rakhi Vasavada, Financial Advisor
Category: Finance
Satisfied Customers: 4496
Experience: Attorney and Financial Expert. Have specialization in Financial Laws.Practice experience of over 13 years
Rakhi Vasavada and other Finance Specialists are ready to help you
Customer: replied 1 year ago.
Dear Rakhi, Thank you very much for your advice. The links look most useful and I will take great interest in reading them. Kind regards, Cathy

What Customers are Saying:

 
 
 
  • I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response... T.G.W
< Previous | Next >
  • I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response... T.G.W
  • I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight. Bonnie
  • Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation. John
  • Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with. Orville
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP
 
 
 

Meet The Experts:

 
 
 
  • Rakhi Vasavada

    Rakhi Vasavada

    Financial Advisor

    Satisfied Customers:

    1795
    Attorney and Financial Expert. Have specialization in Financial Laws.Practice experience of over 13 years
< Previous | Next >
  • http://ww2.justanswer.com/uploads/RA/rakhi.v/2012-7-3_14374_RakhiVasavadaL.64x64.jpeg Rakhi Vasavada's Avatar

    Rakhi Vasavada

    Financial Advisor

    Satisfied Customers:

    1795
    Attorney and Financial Expert. Have specialization in Financial Laws.Practice experience of over 13 years
  • http://ww2.justanswer.com/uploads/MS/MsAM/2012-6-9_16426_anna.64x64.jpeg Anna's Avatar

    Anna

    Teacher, writer, biologist

    Satisfied Customers:

    270
    Great research skills, variety of work experiences, teaching experience.
  • http://ww2.justanswer.com/uploads/PD/pdheslin/2012-6-6_232056_pambig.64x64.jpg pdheslin's Avatar

    pdheslin

    Consultant

    Satisfied Customers:

    51
    20+ years of internet site creation and search engine optimization. Dozens of search tools at my disposal.
  • http://ww2.justanswer.com/uploads/BL/blueflowers1063/2013-10-10_35834_KimHolidays1.64x64.jpg Kim D.'s Avatar

    Kim D.

    Consultant

    Satisfied Customers:

    27
    Researcher 20+yrs in small and large institutions
  • http://ww2.justanswer.com/uploads/NU/nursescare4u/2013-3-31_03429_JApic.64x64.jpg findinganswers's Avatar

    findinganswers

    Internet Researcher

    Satisfied Customers:

    22
    Internet Researcher, Nurse for over 17 years, and can find answers for you!
  • http://ww2.justanswer.com/uploads/PR/ProMBA/2012-6-7_154051_beach.64x64.jpg ProMBA's Avatar

    ProMBA

    Internet Researcher

    Satisfied Customers:

    3
    I'm an owner of three businesses, with both undergraduate and graduate business degrees from top tier universities.
 
 
 

Related Finance Questions