Changing jobs with ...
 

Changing jobs with a DC pension?

Posts: 21639
Full Member
Topic starter
 

I'm about to change jobs, going from one with a DC pension to another one with a DC pension.

I'm sure there's not a simple answer, but my simple question is, do I leave it where it is, or do I take it with me?


 
Posted : 06/01/2023 6:38 pm
 5lab
Posts: 7926
Free Member
 

depends on what packages\costs each provider has - some company pensions have really high management fees compared to others.

as long as you don't forget about it there's no real issue having a few plans as you get older.


 
Posted : 06/01/2023 6:42 pm
Posts: 145
Free Member
 

I moved some of mine into a SIPP. Have one DB, 2 DC and a SIPP now..!


 
Posted : 06/01/2023 7:16 pm
 db
Posts: 1927
Free Member
 

I have 2 DB and 2 DC. Was no benefit in moving the the DC into one and I figured having pension spread over 2 companies was somehow better from a risk management view.


 
Posted : 06/01/2023 7:39 pm
Posts: 1750
Full Member
 

Check what happens with the annual fees. One company I left had a discounted fee until you left, but you could keep the discounted fee if you continue to make private contributions.

Obviously, if the annual fee of the old scheme is higher than the new scheme, then ignoring performance, you are better off moving it to the new one.


 
Posted : 06/01/2023 8:14 pm