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Consolidate your pensions

Consolidate your pensions

Throughout your lifetime, you may have worked for several employers to further your career prospects. ‘Job for life’ for many is not an option as you move up your career ladder to achieve broader experience and off course better remuneration. As you change jobs more frequently during your life, you may have accumulated a number of small pensions along the way. It can be hard to keep track of all the pension plans and difficult to really know how much your total retirement benefits is worth. As a result, many individuals like you may have found your pension plans becoming increasingly fragmented therefore in most cases being left unmanaged in an increasingly volatile market.

When you leave one job to move to another one, you are treated as having left the workplace pension scheme, but you do not lose the benefits you have accrued. You have the option of keeping your pension where it is or transferring your pension(s) to your new workplace. Alternatively, you may wish to consolidate your pensions in a personal pension of your choice that is either managed by you or set up a personal pension that is recommended by your Personal Financial Adviser & managed by an Investment Manager.

At Simply Ethical, we offer you the opportunity to consolidate all your pensions to help you get the maximum benefit from pension arrangements left behind with your previous employers. Consolidating all your pensions with one provider may help reduce charges, increase investment options and make it easier to administer.

Transfer to us and achieve Sharia compliance, simplicity and greater investment choice


Adam has worked with 2 previous employers where he has his pensions. In addition, he has a personal pension (SIPP) with a different provider. He can transfer all of those to Simply Ethical.

Before switching your pension(s), you need to consider a number of factors including the following:

  • Your current pension provider may impose exit charges and other costs associated with the transfer. You should understand the total charges you would incur prior to instructing any transfer. You can get in touch with your existing pension providers to understand whether there are any transfer out costs.
  • You should compare the costs between your current provider(s) and the pension offered by Simply Ethical.
  • You should compare the investment options available within your existing pensions and the pension offered by Simply Ethical to understand which investments would help meet your investment needs and your retirement goals.
  • You need to be careful before moving your pension pot out of certain schemes as some of the pension schemes offer guaranteed benefits or protected benefits. For example, some of the public sector schemes, such as nurses' or teachers' schemes offer extremely generous benefits which can be hard to replicate elsewhere.   
  • If you're a member of a defined benefit pension scheme and the value of your benefits is more than £30,000, you will need to take professional financial advice to ensure that the value you are offered represents good value and that is in your best interest - you may be giving up guaranteed pension benefits, especially if you are moving your pension pot to defined contribution pension scheme, like SIPP.

How can we help?

At Simply Ethical, you can consolidate your pensions using either of the service options below:

1. Simplified Advice Online - this is simply a low cost online investment advice service which asks you a number of questions to understand your objectives and risk profile to then allocate you to a suitable portfolio of investments that are managed by us.

2. Comprehensive Personal Financial Advice - we can help you by reviewing your existing circumstances and advise whether or not it is in your best interest to consolidate your pensions. Moreover, offer advise on the most suitable pension scheme and the investment strategy that meets your objectives. 

Please note, the Simplified Advice Online Service provides investment advice only based on the amount being invested, your objective and the risk profile - it does not provide pensions advice. So the decision to transfer your pensions to Simplified Advice Online is solely made by you. If you are still unsure and need financial advice, please contact us


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