38 y.o., I currently have five private pension pots from previous employments, all with different providers, that I'm planning to consolidate (note, this is excluding my current employer's scheme, which I'm leaving as-is). I've never previously looked into my pensions much, nor how they are invested, so trying to educate myself on this now.
My smallest pot is with L&G in a mastertrust. I had looked into transferring this one out, but after requesting it, had a message through letting me know that this pension has a protected retirement age of 55.
Another pot of mine is with Aviva, which I also believe, according to this page, should also have a protected age of 55: https://www.aviva.co.uk/retirement/pension-basics/changes-to-pension-age/
The age protection is really appealing, so assuming it's possible to do so (which I'm trying to get confirmation of), I want to consolidate my pensions together into one of these two. So what I'm looking for is general thoughts on which seems a better choice:
L&G
- 0.22% management fees
- Choice of 43 L&G funds
Aviva
- 0.4% management fees
- Choice of 224 Aviva funds
Is it simply a case of opting for L&G, as it has the lower management fees? Or does the larger range of funds available through Aviva, or any other factors, outweigh this? Once I have done the consolidation will look into moving from the default funds which each currently uses.
My smallest pot is with L&G in a mastertrust. I had looked into transferring this one out, but after requesting it, had a message through letting me know that this pension has a protected retirement age of 55.
Another pot of mine is with Aviva, which I also believe, according to this page, should also have a protected age of 55: https://www.aviva.co.uk/retirement/pension-basics/changes-to-pension-age/
The age protection is really appealing, so assuming it's possible to do so (which I'm trying to get confirmation of), I want to consolidate my pensions together into one of these two. So what I'm looking for is general thoughts on which seems a better choice:
L&G
- 0.22% management fees
- Choice of 43 L&G funds
Aviva
- 0.4% management fees
- Choice of 224 Aviva funds
Is it simply a case of opting for L&G, as it has the lower management fees? Or does the larger range of funds available through Aviva, or any other factors, outweigh this? Once I have done the consolidation will look into moving from the default funds which each currently uses.