There was an interesting article in the Guardian recently\nthat outlined the importance of being cautious before combining your pensions\ninto one pot. Whilst doing so can achieve cost savings, due to fees being\ndiscounted on larger pots, there are potential pitfalls to consider:<\/p>\n\n\n\n
1. Throwing away enhanced tax-free cash or early retirement\noptions attached to some older pensions
\n2. Throwing away valuable guaranteed annuity rates attached to some older\npensions
\n3. Paying steep exit penalties
\n4. Missing out on \u201csmall pot\u201d privileges for those potentially affected by the\nlifetime allowance for pension savings
\n5. Missing out on \u201csmall pot\u201d privileges for those still putting money in.<\/p>\n\n\n\n
You can read the article in full: https:\/\/www.theguardian.com\/money\/2019\/aug\/31\/pensions-five-reasons-to-think-twice-before-putting-it-all-in-one-pot<\/strong><\/a><\/p>\n\n\n\n To make an informed decision you need to review the features\nand benefits of your existing schemes in-depth. Getting independent financial\nadvice is vital. If you feel you could benefit from talking to a Pension\nSpecialist, please contact us on 0114 235 3500.<\/p>\n","protected":false},"excerpt":{"rendered":" There was an interesting article in the Guardian recently that outlined the importance of being cautious before combining your pensions into one pot. Whilst doing so can achieve cost savings, due to fees being discounted on larger pots, there are potential pitfalls to consider: 1. Throwing away enhanced tax-free cash or early retirement options attached … Continue reading “Pensions: Should you put it all in one pot?”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-27","post","type-post","status-publish","format-standard","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/www.hamnettwealth.com\/news\/wp-json\/wp\/v2\/posts\/27","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.hamnettwealth.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.hamnettwealth.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.hamnettwealth.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.hamnettwealth.com\/news\/wp-json\/wp\/v2\/comments?post=27"}],"version-history":[{"count":1,"href":"https:\/\/www.hamnettwealth.com\/news\/wp-json\/wp\/v2\/posts\/27\/revisions"}],"predecessor-version":[{"id":28,"href":"https:\/\/www.hamnettwealth.com\/news\/wp-json\/wp\/v2\/posts\/27\/revisions\/28"}],"wp:attachment":[{"href":"https:\/\/www.hamnettwealth.com\/news\/wp-json\/wp\/v2\/media?parent=27"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hamnettwealth.com\/news\/wp-json\/wp\/v2\/categories?post=27"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hamnettwealth.com\/news\/wp-json\/wp\/v2\/tags?post=27"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}