Consolidating company pensions

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Unfortunately, personal pensions cannot be consolidated directly into a company pension scheme.

They can be transferred into a PRSA, and then onto a company pension.

I routinely come across clients with four or more old pensions, either from old employments or their own personal pensions, and it is a major headache to consolidate them into one single pension.

There are a few key 'rules of thumb' when approaching this issue.

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My question is should I consolidate them into one pension pot?

If there are additional voluntary contributions (AVCs) in your previous pensions, you used to be able to access up to 30pc of your AVC pot before retirement until quite recently, but now you can only access your pension from age 55 in most cases.

When considering personal pensions, the rules are slightly different.

Clara-Pensions, the member-first consolidator for defined benefit pension schemes, today announces that TPG Sixth Street Partners (TSSP), the global credit investment firm with billion in assets under management, will become its provider of long-term capital.

I am 45 years old with three different pension pots.

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