Transfer and consolidate your pensions

It's important your details are up to date with your previous pension provider. If any of the details we hold for you differ from the provider you're transferring from, they’re likely to reject the transfer. Common incorrect details are an old address or surname, a wrong National Insurance number, or a wrong pension plan number.

Transferring isn't usually recommended if your pension has safeguarded benefits including defined benefit (DB) pensions, and defined contribution (DC) pensions with guarantees – such as guaranteed minimum pensions (GMPs) and guaranteed annuity rates (GARs). Before you can transfer a pension with safeguarded benefits to us, you’ll need to receive written advice and a positive recommendation to transfer from an Independent Financial Adviser (IFA). We currently don’t accept the following schemes, even if you have obtained advice: Inherited pensions, pension sharing orders, qualifying recognised overseas pension schemes (QROPs), local government pension schemes, civil service pensions, NHS pensions, university superannuation schemes and teachers' pensions. Although we don’t accept these transfers, other providers may still accept them.

If you transfer a pension to us, your assets will first be sold and then come to us as cash. As with all pension transfers, your money may be uninvested for a few days during the transfer and potentially miss out on returns during that time. Once completed, we'll invest that money on the next trading day.