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...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Budget Media Watch: Healey to raise tax-free allowance for low-income state pensioners

Budget Media Watch: Healey to raise tax-free allowance for low-income state pensioners

Not expected to tinker with tax-free lump sum

Jen Frost
clock 26 October 2026 • 2 min read
Mind the gap: Why advisers have a key role in closing the gender pension divide

Mind the gap: Why advisers have a key role in closing the gender pension divide

'While access to pensions has improved, barriers remain'

Julia Peake
clock 22 October 2026 • 5 min read
Planning points: Paying pension funds to charity on death

Planning points: Paying pension funds to charity on death

IHT on pensions may create opportunities for charitable giving

Martin Jones
clock 16 October 2026 • 3 min read