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How to transfer a pension from one company to another

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Pension schemes have different features and benefits, but the level of service, charges and investment choice can vary too. If you’re not satisfied with your current pension scheme or provider, you might consider transferring to a new modern pension plan like the HL SIPP (Self-Invested Personal Pension). It can help to talk things through first.

What will be discussed on the call

During your telephone appointment you will get answers to your questions, but you won’t get personal advice on what’s right for you. We’ll discuss the risks and benefits around how to consolidate pensions, and explain:

  • What to check before you transfer
  • How to transfer a pension (as cash or stock)
  • Which pensions you shouldn’t transfer and why
  • When and why you need advice to transfer a DB pension
  • How to use a SIPP to consolidate your pensions
  • How to find a lost pension

A few years back, I made sure that my pensions weren’t scatted around with different providers, and I consolidated them into the HL Self-Invested Personal Pension for convenience and easy management. Keeping things simple and together, I believe, has enabled me to make better investment decisions.

Mr Adlam

Important information: Make sure you check exit fees with your current provider and that you won’t lose any valuable benefits before transferring. A SIPP is designed for those happy to make their own investment decisions. The value of investments can rise and fall, so it’s possible to get back less than you put in. Pension and tax rules can change, and benefits will depend on your circumstances. You can usually take money from a pension from age 55 (rising to 57 from 2028). Seek advice if you’re not sure what’s right for your needs.

What will be discussed on the call

During your telephone appointment you will get answers to your questions, but you won’t get personal advice on what’s right for you. We’ll discuss the risks and benefits around how to consolidate pensions, and explain:

  • What to check before you transfer
  • How to transfer a pension (as cash or stock)
  • Which pensions you shouldn’t transfer and why
  • When and why you need advice to transfer a DB pension
  • How to use a SIPP to consolidate your pensions
  • How to find a lost pension

A few years back, I made sure that my pensions weren’t scatted around with different providers, and I consolidated them into the HL Self-Invested Personal Pension for convenience and easy management. Keeping things simple and together, I believe, has enabled me to make better investment decisions.

Mr Adlam

Important information: Make sure you check exit fees with your current provider and that you won’t lose any valuable benefits before transferring. A SIPP is designed for those happy to make their own investment decisions. The value of investments can rise and fall, so it’s possible to get back less than you put in. Pension and tax rules can change, and benefits will depend on your circumstances. You can usually take money from a pension from age 55 (rising to 57 from 2028). Seek advice if you’re not sure what’s right for your needs.