Savers urged to be cautious on DC consolidation

Research highlights benefits/drawbacks of consolidation

Martin Richmond
clock • 2 min read

Savers should carefully consider whether to consolidate their defined contribution (DC) pensions into one pot, according to new research published by Lane Clark & Peacock (LCP).

The consultancy's 'Five reasons to consolidate your DC pensions - and five reasons to be careful' paper - published today (22 August) - considers the benefits, and the drawbacks for savers opting to consolidate all their existing pensions into one pot. The consultancy warned that the upcoming implementation of the pensions dashboards could give "further impetus to the growing drive to consolidate pensions into a single pot", as many savers hold multiple pensions from different providers. On the other hand, the report lists the potential disadvantages of consolidation, which could incl...

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