It's possible to move your pension fund from one pension provider to another. This is known as a pension transfer, and it's an increasingly important part of retirement planning. Pension transfer should be one of the options that you look at when you're reviewing your financial plans.
It may well be that the best option is to keep your pension where it is. However, it may not be, especially where the circumstances that led you to choose that provider in the first place have changed. There are many questions which influence why and when you should think about a pension transfer and you should speak to your financial adviser about them in the first instance.
What are the possible advantages of transferring your pension?
Pension plans have changed considerably in recent years. They now offer you far more control than they once did. Today, you can make choices about:
- the level of charges you are prepared to pay
- the frequency and method of payments
- the funds your money is invested in
- the level of service you receive from the pension provider
- whether you want online access to the details of your plan
Common questions
Want more information? Find answers to some questions you might have.
Next steps
Take a look at what to do if you want to transfer.
