

Consolidate your pensions
Get more choice, clarity and control
Switch your future on. Switch your pension provider.
Important information - SIPPs are a type of pension for people happy to make their own investment decisions. If you’re thinking about transferring, check you won't lose valuable guarantees or benefits or have to pay excessive exit fees. You can normally only access the money in a pension from 55 (rising to 57 from 2028). This website isn’t personal advice, if you’re not sure what’s suitable for your circumstances, please seek financial advice.
What is pension consolidation?
Pension consolidation is also known as combining or transferring pension pots by bringing them together under one roof.
You’re likely to have more than one pension pot if you’ve had more than one employer, and there are a lot of pension types, each with different rules, features and benefits. Consolidating your pensions is a good way to take control of your pension savings - particularly as you approach retirement.

Should I consolidate my pensions?
Depending on your needs and the kind of pension you have, it could make sense to consolidate and transfer your pension pots to one easy-to-manage account, like the HL Self-Invested Personal Pension.
- Less hassle and more time - You’ll only have one set of login details to remember, and one provider to deal with.
- Easy management - You can access your statements online, make changes to all your investments and income choices quickly and take advantage of new opportunities easily.
- A clear overview - You’ll know exactly where you’re invested and how much retirement income you can take.
- Reduced costs - Having only one provider could reduce the overall fees you pay.

How to consolidate pensions
First check that you’ve found any lost or old pensions. Then make sure you’ve checked all the costs and that you won’t be giving up any valuable benefits or guarantees by transferring.
The final step is to apply to transfer. You'll typically need to confirm your pension value, policy number and the name of your existing provider.
The benefits of combining multiple pensions with HL
Our award-winning Self-Invested Personal Pension (SIPP) has a lot to offer if you want more control and choice.
If you’re looking to combine your old pensions into one, you could consider moving them to your SIPP.
- Invest how and where you want - You can pick your own investments, select one of our ready-made portfolios, or pay a financial adviser to choose investments for you.
- Easy-to-use online account - You can check your pension whenever you like, online and with the award-winning HL app.
- Flexibility at retirement - Some older providers offer limited options for taking an income from your pension. With the HL SIPP, you’re free to choose from all the main retirement options.
- Peace of mind - We’re a financially secure FTSE 100 company, trusted by over 1.7 million clients. We have over 40 years’ experience in empowering people to save and invest for a brighter future. And have won over 200 awards, including Best Pension Provider 2022 by ADVFN Financial Awards.
- Expert help is only a phone call away - Get ongoing support from our UK-based helpdesk and the answers to your questions no matter how big or small.
- Invest how and where you want - Choose a ready-made option or pick your own investments to build a pension that's personal to you.
- Peace of mind - We're a financially secure FTSE 100 company, trusted by over 1.7 million clients. We take account security seriously and have over 40 years experience in empowering people to save and invest for a brighter future.
- Easy online access - Best Pension Provider 2022 by ADVFN Financial Awards. You can check your account whenever you like, online and with the HL app.
- Flexibility at retirement - You’re free to choose from all the main retirement options.
It's free to transfer a pension to us
Your current provider may charge exit fees though, so it’s worth checking with them first.
Our annual charge for holding investments is never more than 0.45%. But some investments will have their own charges. See our full list of charges, including dealing fees.
How to transfer a pension to HL
Before you transfer, make sure that all your personal details (including current name and address) are up to date with your existing provider. You can ask your current provider what details they hold when you’re checking for any existing benefits and exit fees. This can help to avoid delays.
1. You complete a transfer application
The fastest way is to apply online, or you can also apply by post. If you’re not already an HL client, once you’ve read through our Terms & Conditions (including charges) and Key Features, you will be asked to create an account online as part of the process.
2. We'll take care of the rest
Once you’ve applied, we’ll contact your current pension provider and start your transfer. We’ll also keep you updated along the way and let you know once your transfer is complete.
You’ll keep the same client number and log in details (if you have online access).
You can normally choose to transfer your pension as cash or stock (if your current provider allows you to transfer investments without selling them first). If you transfer as cash, you will miss out on any market rises or falls. If you transfer as stock, it’s unlikely you’ll be able to make changes to your investments. This can mean missing opportunities to buy or sell.
You can normally choose to transfer your pension as cash or stock (if your current provider allows you to transfer investments without selling them first). If you transfer as cash, you will miss out on any market rises or falls. If you transfer as stock, it’s unlikely you’ll be able to make changes to your investments. This can mean missing opportunities to buy or sell.

Help from an expert
If you’re still not sure what’s right for you, you could consider getting pension consolidation advice from an expert. A financial adviser can help you decide what your best options are and make plans for the future.
Pension consolidation FAQs
Pension essentials

6 pensions you shouldn't transfer
Some pensions are typically better off left where they are. We explain what kind of pensions these are likely to be and how to find out if you have one.

Should I transfer my pension?
We explore whether transferring a pension could be the right choice for you and outline the steps involved.

I can speak to someone on the phone and everything is explained in a very helpful and easy to understand way.MR HARLEY

The Times Money Mentor 2022
Boring Money Awards 2022

UK Investor Magazine Awards 2021
Help and support
If you have any questions about transferring a pension, you can speak to one of our UK-based client support experts.
Call us on 0117 980 9926