Case Study

Defined Contribution Pension Consolidation

Two adult women, smiling at camera

Jane (49) and her partner (48) moved to the US in 2019 and approached Florin Pensions for advice regarding a number of UK pensions they had built up whilst working in the UK. They did not have a clear understanding of what their pensions offered and how best to manage them from the US. They had also experienced difficulty obtaining information from their UK pension providers.

Florin Pensions went through a detailed fact finding and pension review process with the couple and their UK pension providers. Jane had four different UK defined contribution pensions and her partner had one together totaling £650,000. Each pension offered different retirement benefit options with some only offering an annuity or 100% cash-out at retirement.

The key objectives for the couple were to consolidate their pensions with one UK pension provider, have a clearer investment strategy, remain in GBP and have the ability to monitor their UK pensions via an online portal. Florin Pensions assisted the couple with the consolidation of their UK pensions by setting them up with new fully online UK personal pensions with a provider that works with US residents and offers flexi-access drawdown at retirement. We continue to advise on their investment strategies; diversified ETF portfolios managed by a UK fund manager in line with their risk profiles.