Having multiple pensions can actually work in your favor, as they naturally provide diversification in terms of risk, management style, and guarantees. Leaving them to continue as they are can make sense, especially if some have guaranteed benefits or are performing well without intervention. However, it’s also worth reviewing each one individually: for example, your self-managed personal pension may benefit from a periodic check to ensure the investment mix still aligns with your risk tolerance and retirement goals. Similarly, understanding any fees or charges on the older or frozen pensions could highlight opportunities for efficiency. Overall, keeping them diversified while occasionally reviewing performance and alignment with your retirement timeline is often a balanced approach.
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