How to help clients navigate the pension consolidation process

Consolidating pensions may enable clients to pay less in costs

clock • 3 min read

While consolidating pensions can be a wise decision for many individuals, it's crucial to carefully weigh the risks and disadvantages before deciding, writes Pete Hykin

Pension consolidation, which is consolidating many pension plans into one account, is one method that may be worthwhile to explore with your clients. Clients can streamline their retirement planning, perhaps reduce expenses, and increase control over their investing strategy by merging their pensions. Why consider pension consolidation? Consolidating pensions may provide a number of advantages. One benefit is that clients may find it simpler to maintain track of their retirement resources. It might be difficult to maintain track of all the accounts if someone has several pensions from ...

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

DWP, TPR and FCA launch consultation on guided retirement to help 'resurrect' pensions

DWP, TPR and FCA launch consultation on guided retirement to help 'resurrect' pensions

Consultation covers how default pensions should work in practice

Holly Roach
clock 03 November 2026 • 6 min read
Do clients already own the best retirement portfolio?

Do clients already own the best retirement portfolio?

'Feeling safer and being safer aren't the same thing'

Alex Funk
clock 29 October 2026 • 4 min read
Budget 26: Government to get rid of two-year tax rule on lump sum death benefits

Budget 26: Government to get rid of two-year tax rule on lump sum death benefits

Changes will also be made to how tax due on excess lump sum death benefits is collected

Jonathan Stapleton
clock 28 October 2026 • 1 min read