Consumers should consider consolidation of pension pots

Research carried out by independent financial research company Defaqto has shown that many people approaching the latter half of their working lives have collected a number of pension pots that may not be well invested.

David Abbis, Insight Analyst for Wealth Management and the author of Defaqto's Guide to Self Invested Personal Pensions (SIPPs) said: "Instead of holding a number of smaller pension pots with different providers, consolidation into one pension plan may be a wise move to consider. Planning can then be made towards retirement, with sensible investing and monitoring hopefully resulting in better performance."

Mr Abbis added: "It is imperative that people in this situation speak to a financial adviser to ensure that they are in a position to obtain the maximum return from their pension investments upon retirement."

The SIPPs guide can be downloaded free from defaqto.com/adviser/ifa/guides