Hoping someone can help explain something to me…
I have two pensions from previous employers and I’d like to combine them into two pots. They’ve each lost roughly 10% since the markets tumbled because of COVID-19.
Am I right in thinking it makes sense to hold off combining until their value has gone back up again?
Pensions have always confused me more than other types of investment - but I’m approaching this as each of my monthly contributions has bought me a slice of a pension fund, so if I combine them now, the one I combine from will buy fewer slices of the one I’m combining into…whereas if I wait then I’ll get more of the one combine into without having to put any more money in?
Or is that wrong?
Thank you to anyone who can do a bit of explaining!