Transfer a pension
Available now when you transfer
Give your old pensions a better chance to grow
Goodbye to the job for life
People have 11 different jobs in their lifetime, on average, and each new job could mean a new pension. This can mean numerous providers to deal with, several phone numbers and logins to remember, and mountains of paperwork.
To keep on top you might need a complex filing system to record every date and value. If that doesn’t sound like you, a simpler solution is transferring your pensions to one place, like the HL Self-Invested Personal Pension (SIPP).
Enjoy more control
The HL SIPP gives you more control and the freedom to choose your own investments. What’s more, transferring is easier than you might think.
If you’d like to transfer your existing pension(s) to Hargreaves Lansdown, please first make sure that you won’t be penalised heavily by your current provider. We wouldn’t want you to lose money.
Once you’re ready to transfer just let us know and we’ll take care of the rest.
Transfer a pension to HL and get £50 to £500 cashback
Transfer a pension worth £5,000 or more to HL and we’ll give you between £50 - £500. The money is a thank you from us, it won’t come out of your account or investments.
The more you transfer, the more you receive. Terms apply.
To automatically qualify you must apply by 30 April 2020. Need more time to decide? Let us know and we'll give you up to an extra six months. To request more time call 0117 980 9926 or email firstname.lastname@example.org with your full name and address.
You’ll receive your cashback after the offer closes and all transfers have completed. The money will be paid into your HL loyalty bonus account. To keep the cashback, all we ask is that you keep your account with us for a year. If you’re transferring a drawdown pension and want to qualify for cashback, please add a note to your application or let us know.
|You transfer||We pay you|
|£5,000 - £24,999||£50|
|£25,000 - £49,999||£75|
|£50,000 - £99,999||£100|
|£100,000 - £124,999||£200|
|£125,000 or more||£500|
Why choose the HL SIPP?
- Security - We’re a secure FTSE 100 company trusted by over one million clients and the UK’s largest SIPP provider.
- Control - See how your pension is doing anytime online and with the HL app.
- Support - We’re available six days a week to help with any question, no matter how big or small. We also offer financial advice, investment analysis, and pension tools.
- Choice - Choose from our huge selection of funds, shares, and other investments.
Types of pensions you can transfer
You can transfer most types of pension to the HL SIPP:
- Personal and stakeholder pensions
- Retirement Annuity Contracts (RACs)
- Other SIPPs
- Most Additional Voluntary Contribution plans (AVCs) including Free Standing AVCs
- Executive Pension Plans (EPPs)
- Most paid-up occupational money purchase pensions
- Old protected-rights pensions accrued from contracting out of the State Second Pension or SERPS (State Earnings Related Pension)
- Pensions in drawdown
If you have a final salary pension or another pension type not listed above, please give us a call on 0117 980 9926 and we may be able to help you transfer.
How to transfer
We don’t charge anything to transfer to us. But it’s a good idea to check if your provider charges exit fees, or if you’ll lose any benefits or guarantees.
Here's how transferring works:
- You apply to transfer
- We contact your provider and start the transfer
- We keep you updated with progress
- We tell you when everything arrives
- When you’re ready, you start investing
Once we receive your transfer instruction...
We’ll do the rest. We’ll contact your current provider and organise everything with them. Most pensions can be transferred without the need for more paperwork and the majority take just nine working days. We’ll let you know exactly what’s happening and when your pension is here.
Terms of the cashback offer – Spring 2020 – SIPP transfers only
1. You’ll receive a cash amount between £50 and £500, depending on the amount you transfer, when you transfer into an HL SIPP an existing pension from another provider, worth at least £5,000 (“the Offer”), subject to these terms and conditions. Please be aware the following are excluded from the Offer: (1) the lodgement of certificated shares; (2) new money cash subscriptions into any HL account; (3) the transfer of previous pensions provided by your current employer, if the HL SIPP is already your current workplace pension; (4) defined benefit/final salary pension transfers.
2. The Offer does not apply to investments already held in the HL service or to switches or transfers between or within existing HL accounts or to income and interest received on any assets held in those accounts.
3. The Offer is funded by Hargreaves Lansdown’s money. The cashback will not come from your own cash or investments. The Offer will be available until 30 April 2020 inclusive. However, we reserve the right to remove or suspend the Offer if necessary, including for legal or regulatory reasons or otherwise, by posting a notice on our website. If the Offer closes early, all qualifying applications already received at the time of the posting of the notice will still be accepted.
4. The Offer will only apply to cashback transfer forms coded SCCB5, SCCB6, SCCB7, OTMQC, OTK, OTP, OTD, AWSC4, AWSC5, APSC3, APSC4 received by us between 22 January and 30 April 2020, inclusive (the “Offer Period”), whether received online or in the post. The application code should be found in the top right of a form. If transferring a pension for drawdown, you must include a note requesting cashback with your application to qualify. As long as we receive your transfer form within the Offer Period, even if the transfer itself isn’t completed until after the Offer closes, you‘ll still qualify. If you need more time to decide whether you want to transfer to us, please let us know and we’ll extend this deadline for you by up to six months. To request more time simply call our Helpdesk on 0117 980 9926 or email email@example.com with your full name and address.
5. The cashback payment will be paid into your Loyalty Bonus Account after the Offer has closed and within one month of completing your transfer, which will be determined by us. Your Loyalty Bonus Account is separate from your HL ISA, Fund and Share Account, and SIPP. The cash can be kept in your Loyalty Bonus Account for fee collection, withdrawn or moved into whichever HL account you choose. If moved into an ISA or SIPP, it’ll count towards your annual allowance.
6. The value of your cashback will be based on the cumulative total value of transfers you make within the Offer Period into an HL SIPP, not the value of each transfer. The value of the cashback will be determined in accordance with the tiers identified in the table accompanying these terms and conditions. It isn’t possible to combine the value of transfers into accounts with different client numbers for the purpose of this offer. The maximum amount of cashback you can receive under this offer is £500.
7. We ask you keep your HL SIPP for one year from the date of the transfer. Please feel free to switch between investments and in or out of cash within your account, but if you decide to transfer away or close your account within 12 months of the date your initial transfer completes, then we reserve the right to reclaim the cashback paid. If cash is to be reclaimed then you’ll be notified and the cash will be taken within 7 days of the account closure or transfer.
8. We also reserve the right to determine how the cashback offer is calculated. Therefore, if you are not sure how your transfers will be treated under the terms of this Offer, please contact us before you return your transfer form. By submitting a qualifying application, you agree to be bound by the terms of this Offer.
9. These terms are governed by the laws of England and Wales and subject to the exclusive jurisdiction of the courts of England and Wales.
10. The Offer cannot be used in conjunction with any other transfer offer.