Case Study: Pension Consolidation

ducks in a row

Tom has ‘pensions all over the place’ and is turning 55 later in the year. His daughter Kate is getting married – and Tom will be picking up the bill!

Tom understands that he can access some of his pension pot at his next birthday, but he’s ‘clueless when it comes to things like this’ and wanted some help.

He wanted to know, could he stand to benefit from putting them all together into one consolidated plan?


Let’s consider consolidation:

We assessed each of Tom’s current arrangements, some of these going back to the 1980s.

After getting to know Tom, we looked at each of his personal pension arrangements. Some are better than others, although like Tom said, they were ‘all over the place’.

We quickly established that none of his existing plans have any valuable guarantees or benefits that would be lost should he transfer, as they’re all old workplace pensions. Tom was pleasantly surprised at how much he’s now actually worth!

So, after consideration, we recommended consolidation: transferring all of his old workplace pensions together into a flexible pension for many reasons – the main being value, fund choice and of course flexibility.

This will also keep things simple and easy to manage in the future and Tom now has peace of mind knowing that his money is now invested in the right place and working hard for him.

Importantly, our recommendation also allows for Tom to access funds with all of the freedom and flexibility currently permitted at his next birthday – and just in time for Kate’s big day.


Find out more about whether consolidating your pensions could be the right step for you – click below for a no-obligation call with our team today.



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