83. Pension Overload: Consolidate or Complicate? (pension mini series 4)

Women & Money Cafe

The idea behind today's episode is to help our listeners who have multiple pensions and don't know what to do with them. We're going to discuss an approach that you can take, and share stories to illustrate it.
We'll be explaining the term "consolidation," and discussing when it's appropriate to use it and when it's not. We'll also talk about the technical reasons why pensions should be kept separate in some cases.
We'll also be sharing stories from people who have multiple pensions and were able to consolidate them successfully. One whose pension was difficult to sort out due to numerous employments, but with our tips, she was able to consolidate and organize her pensions more efficiently.
Another came to us with ten different pensions and had no idea about their value and nature. They initially thought they had only tens of thousands saved, but actually had a few hundred thousand in a pension pot. By bringing all the pensions together, they was able to plan for their retirement, providing them with well-being and reducing the need for full-time work.
By the end of the episode, you can declare "paperwork bankruptcy" on some of your pension paperwork. We hope that this episode helps you understand your finances better and gives you some strategies for managing multiple pensions. So grab a cup of coffee, and let's dive into the world of pensions.
🔗 Government Pension Tracing Service
GUEST EXPERT: Hannah Wynick, an ex-dancer turned Paraplanner & Business Owner, I place great importance on increasing the roles of women within Financial Services and educating girls and women about all areas of the industry! Outside of work, I love walking with my other-half and our dog, visiting the theatre and cooking!
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08:05 Tips and Stories Shared
11:38 Navigating Troublesome Pension Plans
30:27 When to Consolidate
33:53 What does it cost
YOUR HOST

Julie Flynn is an experienced independent financial adviser and financial coach. Justice and equality drive Julie. Which is why she’s spent years studying and researching how stress affects our financial decision making.

Julie is best known for her work with women who have lost their partner and coaching financial services business who want to implement fair and transparent charges.
Ebb & Flow Financial Coaching | Bree Wealth & Tax | Instagram
CO-HOSTS
Michelle Lambell started her career in financial services as a Stockbroker in 1999 undertaking both advisory and discretionary investment management. Today she is a Chartered Financial Planner, specialising in retirement planning advice, pensions and investments and a Certified Financial Coach.
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