The process of bringing all your pensions together is called consolidation. It is often referred to as a transfer. Most companies will allow you to do this.
There are a number of advantages to this approach. For example:
|You’ll only have to deal with one provider which could make life simpler|
|If you decide to buy an annuity when you want to take benefits, you’ll only receive one payment each month (if you choose to have your income paid monthly), this can feel more familiar as it will probably mirror how your salary was paid|
|If you're likely to buy an annuity, you could receive a better annuity rate as your account will be bigger and some companies offer better rates depending on the size of your pension account|