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Consolidate your pensions

Get more choice, clarity and control

Consolidate your pensions now

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-listed company, trusted by over 1.8 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-listed 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.
FREEto transfer

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 your HL SIPP

The fastest way to transfer a pension to your HL SIPP is online. Alternatively, you can transfer by post.

How to transfer a pension to HL

The fastest way to transfer a pension to the HL SIPP is online. Alternatively, you can transfer by post.

1

Complete a transfer application

As part of the transfer application process, you’ll be asked to read through our Key Features and important information. If you’re not already an HL client, you’ll be asked to create an account online.

As part of this process, you’ll need to read through our Terms & Conditions (including charges), Key Features and important information.

2

Let us take care of the rest

We’ll contact your current pension provider and start your transfer. We’ll also keep you updated along the way and let you know when your transfer is complete. We’ll contact your current pension provider and start your transfer, and keep you updated along the way. You’ll receive your HL client number in the post.

3

Your pensions combinedTransfer complete

Your pension pots will be combined with your existing SIPP account. You’ll keep the same client number and log in details (if you have online access). We’ll let you know once your transfer is complete.

While your transfer is taking place, it’s unlikely you’ll be able to make changes to your investments. This can mean missing opportunities to buy or sell. If your investments are sold and transferred as cash, you’ll be out of the market until your transfer completes. If markets fall, this will work in your favour. But if markets rise, you’ll miss out on those potential gains.

Start my online transfer

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.

More about consolidation advice

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.

Read article

Should I transfer my pension?

We explore whether transferring a pension could be the right choice for you and outline the steps involved.

Read article

Guide to transferring a pension

Read more about transferring at your own leisure

Download the guide

They're always happy to assist, professional at all times and extremely knowledgeable.

MR BOTH

Best Buy Pension 2023
Best Buy Pension
Boring Money Awards 2023
Best Buy Pension 2022
Best Buy Pension
Boring Money Awards 2022
Investing & Pensions Gold Award 2022
Investing & Pensions Gold Award
The Times Money Mentor 2022

Help and support

If you have any questions about the HL SIPP, you can speak to one of our UK-based client support experts.

Call us on 0117 980 9926

Read our FAQs

Email us