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Consolidating your pensions
Alright Stop! Consolidate and listen.
Managing multiple accounts can be daunting. We’re here to help you consolidate your assets and plan for your future. ISA ISA baby…
Staying on top of your money by consolidating your pensions and accounts into one place allows you to understand where you are now, so you can easily focus on where you need to get to.
What are the benefits of consolidating your pension pots and accounts?
1. Organisation and ease of administration
Once you’ve consolidated your pensions into one pot, you will no longer have to deal with multiple providers and can view everything in one place.
2. Drawing income in retirement is much easier
If you plan to take income from your pension, consolidation is a no-brainer. Using multiple pensions to provide your income can be challenging.
Some providers impose a minimum value level on a pension before you can take income so consolidation is required. In addition, many pensions that were established before 2015, may not facilitate flexible income payments.
3. Easily monitor your pension’s investment performance against your goals
Combining your pots can ensure that your money is in a single, well diversified investment strategy that aligns with your goals and needs.
Understanding how your investments are performing should also then be an easy task.
4. Pension allowances made easy
With only one pension, record keeping will become straightforward.
This will help if you want to make a large one-off contribution using something like carry-forward. It will also help with monitoring the annual allowance and make taking your tax-free cash easier.
5. Greater choice and investment diversification
It is a common misconception that transferring your pensions to a single provider will reduce the diversity of your investments. Many default funds across different pension providers are invested in similar ways.
By consolidating your pensions into a SIPP, your investment choice will typically increase.
If your money is managed professionally, the manager should be able to access a wider range of sophisticated instruments.
How can Saltus help?
A chartered firm at the forefront of our profession
Saltus Financial Planning is a ‘Chartered’ financial planning firm. It is a recognition provided to only a small number of firms that are at the forefront of our profession.
Achieving Chartered status means that we have met the highest standards for technical competence in the advice we provide to clients. It also demonstrates our dedication to continued professional development and shows that our clients are at the heart of everything we do.
We have years of experience in consolidating pensions
We help clients consolidate their assets on a regular basis into one straightforward plan so that they can understand your financial position with ease.
We’ll help you avoid the risks when consolidating
There are several potential risks to be aware of with any consolidation, such as the loss of valuable guarantees or protected higher tax-free cash percentages. Our expert planners will take care to carry out a full assessment of your assets to ensure these aren’t overlooked.
Award-winning financial planning services
Our financial planning services can help you achieve your goals in life, whether it’s organising your financial affairs or planning for a comfortable retirement…
Do you need help consolidating or transferring your pensions?
Our pension specialists are experienced at carrying out transfers and consolidation for clients and can help you avoid any pitfalls. Get in touch to discuss how we can help you.
What our clients have to say about us...
Watch the below testimonials from Saltus clients to hear what it's like to be one of our clients and how we have helped others like you...
Financial Planning Frequently Asked Questions
What areas of financial planning can you help with?
- Cashflow planning
- Retirement planning
- Pension advice
- Inheritance tax planning
- Investment advice
- Tax efficient structuring
- Protection – life, income, critical illness and business insurance
- Financial planning for divorce
- Financial planning pre and post business sale
- Specialist personal injury advice
What types of clients do you work with?
We work with individuals from all walks of life and have a diverse client list consisting of people from professional backgrounds (including senior executives, entrepreneurs, lawyers, accountants, consultants and others) and non-professional backgrounds alike.
We typically work with clients with £250,000 or more in investable assets.
How much money do I need to be comfortable?
This has to be one of the most common questions we are asked as financial planners. The reality is that everyone is different. We’ll take the time to analyse what you spend now, and how this may change in retirement to help provide you with a precise answer. We have written an article on the subject, if you’d like to find out more
What makes Saltus different?
We work in partnership with our clients and can take care of all your needs in one place, all supported by industry leading technology.
As well as surrounding you with a team of highly qualified individuals, we have our own platform, can provide the tax wrappers you require, source investment solutions from the wider market or from our award-winning asset management team, and review your protection needs to ensure your family are looked after should the worst happen.
How do we get started and how much will it cost?
Once you have contacted us, we’ll have an initial discussion to understand more about what you are trying to achieve and how your existing assets and investments are structured. We’ll then have some further meetings to garner an in-depth understanding of your requirements and provide you with a report that outlines our recommended financial plan.
There’s no charge for the initial steps. As our plans are bespoke to your objectives, charges will depend on what’s recommended to you. These will be outlined in full before you progress with us.
About Saltus?
Find out more about our award-winning wealth management services…
Winner
Best Places to Work 2024
Winner
Best Financial Advisers to Work For
Finalist
Investment Performance
Finalist
Investment Performance: Balanced Portfolios
Winner
Best Places to Work 2024
Winner
Best Financial Advisers to Work For
Finalist
Investment Performance
Finalist
Investment Performance: Balanced Portfolios
£4.7bn+
assets under management
20
years working with clients
200+
employees
98%
client retention rate
Saltus Financial Planning Ltd is authorised and regulated by the Financial Conduct Authority. Information is correct to the best of our understanding as at the date of publication. Nothing within this content is intended as, or can be relied upon, as financial advice. Capital is at risk. You may get back less than you invested. Tax rules may change and the value of tax reliefs depends on your individual circumstances.