There's no maximum, but the largest reward is £2,000, or 200,000 Avios (you’ll need to choose which reward you’d prefer, as you can’t have both). To qualify for the maximum reward, you must transfer at least £200,000.

As long as your transfer is still invested with us on 26 November 2027, you’ll receive your cashback within 60 days, or Avios within 55 days. If your transfer isn't complete by 26 November 2027, you'll receive your cashback within 60 days of the date that it does complete, or Avios within 55 days. 

Avios are the loyalty currency of the British Airways Club and partners which can be spent on flights, hotels, experiences and more. Learn how to collect and spend Avios.

No, this Avios offer is only for clients with a British Airways Club membership number. Not a member? Join the Club.

You won’t pay any fees transferring to us. But before you initiate the transfer, please check if your old provider will charge you, and whether you'll lose any benefits or guarantees from them.

Your investments will be sold during the transfer process, meaning they’ll temporarily be out of the market. 

Transfers not completed within 12 months will be considered separately. You can receive your reward based on the value of any transfer(s) completed after the end of the 12-month period, as long as you have met the minimum transfer amount of £5,000. You’ll receive cashback within 60 days of the transfer completing, or Avios within 55 days. Each one must be initiated by 26 November 2026.

Once you’ve registered for the offer, you can make multiple transfers, and they don’t need to be done in one go. Your reward will be based on the total amount transferred from existing pensions initiated by 26 November 2026 and invested until 26 November 2027. Previous pension transfer contributions made before offer registration won’t count towards this promotion.

Please take some time to read about our Personal Pension to learn more about the types of pensions you can transfer.

No, when you transfer a self-managed pension to us, it will be transferred into our Personal Pension, which is a managed pension. This means your pension would be invested in line with the investment style and risk level you choose.

You can transfer your pension to another provider at any time. But if you transfer out (or move money out of your pension once you’re eligible to access it), it may affect your reward.

If you transfer any part of your pension out before 26 November 2027, the amount you transfer out won’t count towards your reward.

And if transferring out takes your total transfer amount below the offer minimum of £5,000, you won’t qualify for any reward. You can’t withdraw money from your pension until you’re eligible to access it (for example, once you reach the minimum pension age).

As an example, if you transfer £10,000, and then transfer out £5,000 before 26 November 2027, your reward will be either £50 or 5,000 Avios. However, if you transfer £10,000 and then transfer out £7,500 (taking your total transfer amount to £2,500), you wouldn’t qualify for the offer.

We won’t take any returns or losses on your pension investments into account when calculating your reward. For example, if you transfer £5,000 into a pension and keep it invested until 26 November 2027, but the value falls below £5,000 due to market movements, you’d still be eligible for your reward. Any transfers initiated after 26 November 2026 won’t count towards your reward.

Also, please take some time to read about our Personal Pension to learn more about the withdrawal restrictions.

THE OFFER

1. The following terms and conditions (the “Promotional Offer T&Cs”) apply to this Pension transfer offer (the “Promotion”).

2. As part of this Promotion, if:

A. you initiate a transfer of an amount of £5,000 or more from an existing pension to a J.P. Morgan Personal Investing Limited (“JPM PI”) Personal Pension (“JPM PI Personal Pension”) during the period between 00:00 on 1 September 2026 and 23:59 on 26 November 2026 (the “Promotion Period”); and,

B. the transfer(s) you initiate successfully complete; and

C. you keep at least £5,000 of the completed transfer(s) invested in the JPM PI Personal Pension during the period from 00:00 on 27 November 2026 to 23:59 on 26 November 2027 (the “Investment Period”) you will receive a reward after this period of either cashback in your portfolio or Avios (set out in Section 2.F below), provided that you meet the requirements of this Section 2 and the terms of these Promotional Offer T&Cs while this Promotion is available.

D. Sections 6 and 7 set out the steps to follow to take advantage of this Promotion. You must follow these steps, including registering for the promotion via: https://www.personalinvesting.jpmorgan.com/promo/pension-transfer-offer-26#form

E. The total of the transfers that you initiate is the “Initiated Amount” and must be at least £5,000. If you initiate multiple transfers during the Promotion Period, the cumulative value of the transfers will count towards the Initiated Amount.

F. The reward options you can choose from are either of the following and the level of the reward will be based on the total of the completed transfers within the Initiated Amount which remain invested in the JPM PI Personal Pension on 26 November 2027 (the “Qualifying Transfer Amount”), provided this remains £5,000 or more:

i. CASHBACK: cashback into your portfolio as “unallocated cash” (defined in Section 11), with a minimum cashback of £50 up to a maximum cashback of £2,000 as set out under ‘Rewards’ in Section 8 below (the “Cashback Reward”); or
ii. AVIOS: an Avios reward, with a minimum of 5,000 Avios up to a maximum of 200,000 Avios as set out under ‘Rewards’ in Section 8 below (the “Avios Reward”).

G. You must opt for either the Cashback Reward or the Avios Reward. You cannot receive both, they are not cumulative and may not be combined.

H. To receive the Avios Reward, you must have a British Airways Club membership. If you don't have a British Airways Club membership and would like to receive the Avios Reward, you must set up a membership before completing the steps in section 7 (ACCEPTING THE OFFER – AVIOS REWARD) below.

I. The reward is paid on the total Qualifying Transfer Amount; it does not take into account any returns or losses made on the investments within your portfolio, and it does not take into account transfers initiated after the Promotion Period, even if those remain invested during the Investment Period.

J. If you join JPM PI as a New Client on this Promotion, you are unable to take advantage of other joining offers or rewards only available to new JPM PI clients. For clarity, if you are a New Client your Initiated Amount will fulfil the minimum investment amount specified in Section 1.1 of the J.P. Morgan Personal Investing Standard Terms and Conditions (“Standard T&Cs”).

K. The reward is not payable in respect of:

i. Any amounts transferred in excess of £200,000 (although for the avoidance of doubt, amounts above this can still be transferred, but without benefiting from the reward as the maximum reward is the same for amounts of £200,000 or more);

ii. Transfers already initiated before the start of the Promotion Period;

iii. Transfers initiated after the end of the Promotion Period;

iv. Pending transfers which are cancelled;

v. Transfers which do not successfully complete (please see Section 10 and 12 for transfers which complete after 26 November 2027);

vi. Amounts that are withdrawn or transferred out from your JPM PI Personal Pension before the end of the Investment Period. For the avoidance of doubt, this includes any amounts so withdrawn or transferred that are then invested in another JPM PI product; they will not count for the purposes of this reward; and/or

vii. Cash deposits or any other subscription into a product that is not a transfer of an existing pension.

For the avoidance of doubt, if a transfer completes before the end of the Promotion Period, the amount transferred must remain invested in the JPM PI Personal Pension for the full length of the Investment Period if you would like this to be included in the Qualifying Transfer Amount.

AVAILABILITY

3. This Promotion is open to New Clients and Existing Clients (defined below) who wish to transfer an existing pension from another provider to a JPM PI Personal Pension.

a. “Existing Clients” are individuals who have ever invested with JPM PI.

b. “New Clients” are individuals who:

i. Have not invested with JPM PI before; and

ii. Meet the eligibility requirements in Sections 1.1 and 1.2 of the Standard T&Cs at the date of opening a JPM PI Account; and

iii. Will be transferring an existing pension.

4. If you join JPM PI as a New Client on this Promotion, you are unable to take advantage of other joining offers or rewards only available to new JPM PI clients.

5. This Promotion cannot be claimed:

i. To transfer a pension into a JPM PI 100%-cash pot; and/or

ii. More than once. There is only one reward available per client.

ACCEPTING THE OFFER – CASHBACK REWARD

6. To accept the offer, and receive the Cashback Reward (into “unallocated cash”) as set out under “Rewards” below, you must do each of the following things during the Promotion Period:

a. New Clients only: Open a new JPM PI account if you don’t already have one using the same email address you use to register for the Promotion (d. below).

b. Initiate a transfer of an existing pension via your JPM PI dashboard into a JPM PI Personal Pension;

c. Ensure that the transfer(s) you initiate is at least equal to £5,000. If you initiate multiple transfers, the cumulative value of the transfers initiated will count towards this minimum; and

d. Fully complete and submit the Promotion registration form via the relevant link: https://www.personalinvesting.jpmorgan.com/promo/pension-transfer-offer-26#form

Accepting the offer – Avios Reward

7. To accept JPM PI’s offer, and receive the Avios Reward as set out under “Rewards” below, you must do each of the following things during the Promotion Period:

a. New Clients only: Open a new JPM PI account if you don’t already have one using the same email address you use to register for the Promotion (d. below).

b. Initiate a transfer of an existing pension via your JPM PI dashboard into a JPM PI Personal Pension;

c. Ensure the transfer(s) you initiate is at least equal to £5,000. If you initiate multiple transfers, the cumulative value of the transfers initiated will count towards this minimum;

d. Fully complete and submit the Promotion registration form via the link: https://www.personalinvesting.jpmorgan.com/promo/pension-transfer-offer-26#form

e. Provide a valid British Airways Club membership number in the Promotion registration form.

8. If you fail to provide to JPM PI a valid British Airways Club membership number, we will make reasonable attempts to contact you, but JPM PI reserves the right to provide you with the Cashback Reward instead of the Avios Reward.

REWARDS

• If you transfer £5,000 to £9,999, the cashback reward is £50, or an Avios reward of 5,000 points.
• If you transfer £10,000 to £24,999, the cashback reward is £100, or an Avios reward of 10,000 points.
• If you transfer £25,000 to £49,999, the cashback reward is £250, or an Avios reward of 25,000 points.
• If you transfer £50,000 to £99,999, the cashback reward is £500, or an Avios reward of 50,000 points.
• If you transfer £100,000 to £149,999, the cashback reward is £1,000, or an Avios reward of 100,000 points.
• If you transfer £150,000 to £199,999, the cashback reward is £1,500, or an Avios reward of 150,000 points.
• If you transfer £200,000 or more, the cashback reward is £2,000, or an Avios reward of 200,000 points.
• *For the avoidance of doubt, the Cashback Reward and Avios Reward are not cumulative in nature and cannot be combined.

Existing pension provider

9. JPM PI works with a range of pension providers to facilitate the transfer of pensions to JPM PI. If you are transferring a pension, in order for your pension to be transferred to JPM PI, your existing pension provider will need to carry out due diligence on your pension transfer request and approve the transfer. If you have any questions in relation to the transfer of your pension, please contact your existing pension provider.

When and how the reward will be paid – Cashback Reward

10. a. The Cashback Reward (calculated according to these Promotional Offer T&Cs) will be paid to your account within sixty (60) days of the end of the Investment Period subject to b. below.

b. If one or more pension transfers has not completed by 26 November 2027, the proportion of the reward applicable to those transfer(s) will not be paid as above. Instead, these outstanding amounts will be paid to your account within sixty (60) days of completion.

11. a. The Cashback Reward will be held in "unallocated cash”, and you will be notified within your JPM PI account that you have cash waiting for allocation. You can then choose which pot to allocate this cash to or submit a request to withdraw the "unallocated cash".

b. The “unallocated cash” sits within your JPM PI account but is not part of a Stocks and Share ISA, Junior ISA, Lifetime ISA or Personal Pension tax wrapper. If you want to add this to a JPM PI pot or withdraw to your bank account, you can do so from the account. Adding the cash to a Stocks and Shares ISA, Lifetime ISA, Junior ISA or Personal Pension will be treated as a contribution into the tax wrapper and is subject to contribution limits under the relevant tax rules of each tax product. Clients are responsible for all contributions into a tax wrapper and should check that any such contributions do not exceed allowable contribution limits.

WHEN AND HOW THE REWARD WILL BE PAID – AVIOS REWARD

12. a. The Avios Reward (calculated according to these Promotional Offer T&Cs) will be awarded to your British Airways Club account within fifty-five (55) days of the end of the Investment period subject to b. below.

b. If one or more pension transfers have not completed by 26 November 2027, the proportion of the reward applicable to those transfer(s) will not be paid as above. Instead, these outstanding Avios will be awarded to your British Airways Club account within fifty-five (55) days of completion.

GENERAL

13. JPM PI cannot be held responsible for any issue or delays in transferring your pension caused by your current provider.

14. The terms of your JPM PI account are set out in the Standard T&Cs, as well as in any other terms we gave you when you opened your account. Please refer to the Standard T&Cs if you want to know about how JPM PI provides investment services to you, including our fees and charges and compensation arrangements. Capitalised words in these Promotional Offer T&Cs have the same meaning as in the Standard T&Cs, unless they are expressly given a different meaning here.

15. If there is an inconsistency between these Promotional Offer T&Cs and the Standard T&Cs, these Promotional Offer T&Cs will apply to the Promotion only.

16. JPM PI charges management and other fees. The details can be found in the Schedule of fees and charges of the Standard T&Cs.

17. In addition to its rights in the Standard T&Cs, JPM PI reserves the right to change, terminate or withdraw the Promotion:

a. immediately at any time without prior notice to you in cases of

i. suspected abuse, fraud, or violation of the Promotional Offer T&Cs or the Standard T&Cs;

ii. your failure to comply with any obligations under these Promotional Offer T&Cs; or

b. immediately at any time by providing notice on its website.

Where this Promotion is changed, terminated or withdrawn in accordance with this Section 17, these Promotional Offer T&Cs will no longer apply.

18. These Promotional Offer T&Cs shall be governed by English law, and the parties submit to the non-exclusive jurisdiction of the courts of England and Wales.

19. Your personal data will be processed in accordance with the J.P. Morgan Personal Investing Privacy Policy which can be found here: https://www.personalinvesting.jpmorgan.com/legal/privacy-policy.

Getting in contact

20. You can find our contact details in the Standard T&Cs.