I'd be inclined to keep them separate at this stage because if you pay into your new pension scheme and stay with your new employer for less than two year your pension contributions will probably be refunded and if you've transferred, you may have to take your earlier pension fund out as well and lose your contributions to that. Looking longer term when you're approaching retirement age, you might possibly want to reduce your hours to work part-time or something similar, and if you've got two separate pensions, you'll be able to flex your options and perhaps take incomes from them at different times to suit your own finances. However, if you've been lucky enough to have a final salary scheme in the past, or in your new job, stick with that but possibly transfer after two years with your new employer.