There are many good reasons to switch your pension , including our pet hate of old fashioned and outrageous charges. Many of the default funds used for your pension aren’t up to much either.

However, the answer is not always as simple, and having a “bad” pension isn’t always a reason to move on. That’s because some corporate pension schemes offer benefits that can make hanging on

worthwhile. Think guaranteed annuity rates, guaranteed rates of return and pre-retirement loyalty bonuses. The nearer you are to retirement, the more these could be worth to you.

This time this answer is simple, seek out a professional to help you through the minefield. Definitely seek out one that can charge a transparent fee that doesn’t necessarily mean you have to buy another pension to cover the advice!