There can also be benefits of simply setting off a second pension (rather than consolidating) if the entitlements have a different taxable component - not just for members <55, but it's also relevant for estate planning
eg - current entitlements are all taxable worth 500k in pension mode - client then drops in 450k non-concessional and wants that in pension mode too
For estate planning purposes it would be prudent to set the accumulation account off as a second 'tax free' pension - ie over time, if above minimum drawings are paid, you'd run the first account down more quickly thereby alleviating possible etp tax (this is aside from considering recontribution strategies etc)
Consolidating the entitlements in this example would 'dilute' the tax free component to the detriment of the member - it's easy to 'administer' multiple account balances from an accountant's perspective
