Can I combine my pension funds so I can buy just one annuity?

If you wish, you can combine your pension pots into one fund to afford yourself a better annuity income when you retire, but you should make sure that you're not worsening your financial situation in retirement by doing so. 

This is because some pension schemes, such as defined benefit pensions or those with guaranteed rates – be they related to an income, the plan's investment returns, or some other guarantee – could offer you more money if left separate.

If you're unsure of the effects of combining, talk to a financial adviser.

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