Five issues to consider before consolidating pension pots
By Robbie Lawther, 2 Sep 19
Industry changes have made it natural to want to ‘tidy things up’ into one pot – but is it a good idea?
Click on the gallery below to find out why Royal London’s Steve Webb believes you should seek advice first.
Extremely valuable guarantees
![Extremely valuable guarantees]()
2. Throwing away ‘guaranteed annuity rates’ attached to older pots.
When some pensions were sold, they carried a promise that the pot could be turned into a guaranteed income in retirement; given the collapse in annuity rates in recent years these guarantees are extremely valuable but can be lost if people simply transfer out into another pension.
Tags: Consolidation | Pension | Royal London
