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

Revised transfer regs widely backed but industry calls for 'clear and practical' guidance

Revised transfer regs widely backed but industry calls for 'clear and practical' guidance

DWP makes key changes to traffic-light transfer conditions

Jonathan Stapleton
clock 10 June 2026 • 7 min read
DWP consults on new red flag to address emerging SSAS transfer concerns

DWP consults on new red flag to address emerging SSAS transfer concerns

Minister says SSASs may be more vulnerable to the potential for fraudulent misuse

Jonathan Stapleton
clock 09 June 2026 • 3 min read
Why pension transfers remain stuck in the slow lane

Why pension transfers remain stuck in the slow lane

'Some providers complete transfers in as little as five days on average, others take up to 90'

Lisa Picardo
clock 08 June 2026 • 5 min read