Frequently asked questions

Most ReAssure pensions were set up before changes to pensions allowed you to access your money through flexible access, also known as drawdown. Your current pension may not offer the flexible access you’re looking for, but Standard Life, who are part of the same group of companies as ReAssure do. You don't have to transfer to Standard Life, you can move to any provider that offers the options you are looking for.

We can help you transfer your existing pension to a new Standard Life Active Money Personal Pension. We will close your ReAssure pension and transfer your pension plan money to the new Standard Life plan, which will let you access your money when you want to.

Standard Life and ReAssure are part of the same group of companies - Phoenix Group. Standard Life have been looking after people's pension money for nearly 200 years and the Active Money Personal Pension offers flexible access (or drawdown) to help you manage your pension flexibly in retirement, online and by phone.

A pension transfer is when you move your pension savings from one plan to another, often from another provider.

You can transfer your ReAssure pension to Standard Life using the online service, or by phone. If you choose online, you will receive an email at the end of your transfer application setting out what happens next. If you decide to use the telephone service, you will be informed of next steps on the call.

The full amount is transferred out of your ReAssure pension and your ReAssure pension will close. The money you have requested to withdraw will be paid to you, and the remainder accessible from your new Active Money Personal Pension.

Once your new pension it set up, we will send you details on how you can manage your plan online. You can log into the pension dashboard or download the Standard Life App. You can use the online service to track your pension value, withdraw money, make payments, and manage your pension investments. You can also send us a secure online message if you have questions, and we also have UK-based phone support from qualified pension experts.

Standard Life won’t charge you to transfer your pension plan, or to transfer any other pensions from different providers into your new pension. If there are any charges for leaving ReAssure, they’ll tell you about these in your annual statement, retirement options letter or whenever you speak to them about your retirement options.

Yes, once your current ReAssure pension has been transferred to Standard Life, and your Active Money Personal Pension is set up, you can transfer other pensions you have online or by phone. We won’t charge you for this, but you'll still need to check if your other plans have any exit fees, valuable guarantees or features you might be giving up.

The investment charges in the Active Money Personal Pension will be around 0.7% if your plan value is less than £25,000, and around 0.5% if your plan value is more than £25,000 and are choosing one of our ‘Investment Pathway' funds.

If you choose your own funds to invest in, your charge could be higher or lower than this. Your charges are based on the investment you choose and the discount you are eligible for. Standard Life will tell you about your personal investment charges and any discounts when you make your investment choice.

Things you need to know are:

• The approximate value of the pension you want to transfer
• The ReAssure pension plan/policy number
• Your national insurance number
• Whether you are giving up any valuable benefits by closing your old pension

If you don’t know these things, you’ll usually find them in your most recent pension statement or retirement options letter, so it’s good to have these to hand. If you don’t know this, you can call ReAssure to request this information.

If you decide to go ahead online, you can use the link provided in your email from ReAssure. If you decide to go ahead by phone, you can call ReAssure on 0800 073 1777 and they’ll connect you directly to Standard Life.

It usually takes around 3 weeks to transfer your money to Standard Life. If you have requested tax free cash by phone, your Standard Life consultant will confirm when this will be paid to you. If you go ahead using the online service, we’ll send you a confirmation email once you’ve submitted this request which will let you know when it will be paid.

You have 30 days to cancel after you receive your plan documents. After this, you’ll be bound by the terms and conditions of the new plan and any money received by Standard Life will not be refundable under the cancellation rule.

Before we can return pension money transferred in, you must speak with ReAssure to get their agreement to accept the pension back - there is no guarantee they will (be able to) accept it back. If you have taken tax-free cash, you must also arrange to hand this back. Should this not be possible, you must arrange for another pension provider to accept the transfer instead.

When setting up a new Active Money Personal Pension with Standard Life you will be asked to make an investment choice for the money that is being transferred. There are ready-made options, or you can choose your own, from 300 other funds. Whether choosing to transfer your pension using the online service or by phone, you will be guided through the investment options available.

Yes, you can transfer in pensions from other providers and make one off or regular payments to your new pension with Standard Life subject to normal pension payment rules. You can change or pause payments whenever you like.

We recommend you research all of the pension options available to you and pick the one which is right for you and your retirement plans:

• You can transfer your pension to any other provider who also offers flexible access (drawdown)
• You also have other retirement options like, purchasing an annuity or taking it all in one lumpsum

You can find out more information by either reviewing your most recent annual statement or calling ReAssure on 0800 073 1777 to discuss the retirement options available to you.