Extended note: consolidating four workplace pots
A teacher in mid-Wales arrived with four deferred defined contribution pots and a suspicion that “one app would be easier.” During the comprehensive review we found one scheme still carried a protected tax-free cash entitlement above the standard 25%. Transferring that pot would have cost more than the convenience gained.
We consolidated the three unprotected pots into a single arrangement with lower ongoing charges, left the protected pot alone, and rewrote death benefit nominations for all four. The client’s mild reservation: gathering old statements from two closed employers took six weeks longer than the advice itself.