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How-to · Step-by-step

How to find and consolidate old pension pots

In short. Start with the free Pension Tracing Service to find old workplace and personal pensions. Compare charges, features and any benefits you'd lose before transferring. Use Pension Wise (free, government-backed) if you're 50+.

It's common to accumulate several pensions over a career. Consolidating can simplify admin and sometimes reduce charges, but you can also lose valuable guarantees, so check each pot carefully before moving it.

Last reviewed:

·Estimated time: P4W·Cost: Free guidance from MoneyHelper/Pension Wise; some providers charge transfer fees

What you'll need

  • National Insurance number
  • Names and approximate dates of all previous employers
  • Statements or member numbers for any pensions you know about

The steps

  1. 01

    Use the Pension Tracing Service

    The free government service helps you find contact details for old workplace and personal pension schemes. Search at gov.uk/find-pension-contact-details.

    Official link →

  2. 02

    Request up-to-date statements

    Ask each scheme for a current valuation, charges, and any 'safeguarded benefits' — Guaranteed Annuity Rates, protected tax-free cash, defined-benefit promises, with-profits guarantees.

  3. 03

    Check for safeguarded benefits and exit penalties

    If a pension has safeguarded benefits worth over £30,000, FCA-regulated advice is required before transferring out. Some older policies have valuable guarantees that would be lost by transferring.

    Official link →

  4. 04

    Book Pension Wise if you're 50+

    Pension Wise (a MoneyHelper service) gives free, impartial 60-minute appointments on your DC pension options. It is guidance, not advice.

    Official link →

  5. 05

    Initiate the transfer with the receiving provider

    Open the receiving pension (or use an existing one) and complete the transfer form. The providers handle the move, usually within 4–6 weeks. Watch out for scam warnings — never sign anything without verifying the receiving scheme.

Common pitfalls

  • Don't transfer out of a defined-benefit (final-salary) pension without regulated advice
  • Watch for pension scams — unsolicited contact, 'guaranteed' returns, early-access offers under 55
  • Some older personal pensions have Guaranteed Annuity Rates worth more than the headline pot value

FAQ

Is consolidating always cheaper?
Not always. New platforms may have higher charges than long-standing workplace schemes — particularly auto-enrolment defaults capped at 0.75%. Compare the all-in cost before moving.
How long does a pension transfer take?
DC-to-DC transfers usually complete within 4–6 weeks via the Origo Options service. DB transfers take longer and require regulated advice.
What is the Pension Tracing Service?
A free GOV.UK service that holds details of workplace and personal pension schemes — useful when you've lost contact with old providers.
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