A trusted provider, built on 200 years of experience

How transferring works

Bringing old pensions together is simple. You can usually do it online, or you can phone us.

All you need is your:

  • Provider name
  • Plan number (from a letter or annual statement)
  • Rough value of your old plan

We'll then contact your other provider to arrange the transfer. Depending on their process, your transfer may take a few days or up to 6 weeks.

It was so simple to transfer from my old pensions into this one. No hassle, straightforward and now I can relax knowing my future is being looked after.

- Bobby, Ballyclare

Why transfer ahead of retirement

  • Get a clear view

    Transferring can give you one simple view of your retirement savings. This can make it easier to understand your retirement income and to plan ahead.

  • Ready for tax free cash

    With your pensions in one place, it’s easy to access your tax free cash when you’re ready. Standard Life can give you full flexibility on how you choose to access your money.

  • Benefit from lower charges

    Our charges could be lower than your current provider. Standard Life has no hidden charges – we never charge exit fees, and there are no extra costs for switching investments.

    Some of our customers also benefit from a discount. Log in to see your Standard Life charges and any discounts you may get.

What to consider before transferring


Benefits and guarantees

Transferring isn't right for everyone. Some older pensions can have benefits and guarantees which you could lose by transferring. You can usually tell from your annual statement but if you're unsure, check with your other provider.

Some valuable benefits are 'safeguarded'. If this applies and the plan is over £30,000, the transfer will be paused so you can speak to a financial adviser and decide if you want to continue.

 

Exit fees

We don't charge exit fees, but some providers might - generally on older plans.

If you're over age 55, any exit fees are capped to a maximum of 1% of your plan value and exit fees won't apply if the pension was opened after October 2017.

If you're unsure, check with your other provider. These providers have stated they don't charge exit fees.

 

Charges and investments

Charges and investment performance will impact how much you get at retirement. You need to compare providers and decide what's right for you.

To help keep things simple we show 'what you pay' as one overall charge - log in to see how this is calculated including any discounts you may get.

Be aware providers can have separate 'platform' or 'service' charges as well as 'fund' charges, so make sure you're comparing like with like.

 

Other things to consider

  • If your pension is worth less than £10,000, it may be worth keeping it where it is. Read more about small pots.
  • It's not normally a good idea to transfer a pension an employer is currently paying into, because you could miss out on valuable employer contributions. It's easy to transfer later if you want to.

Ready to transfer?


  • Transfer online

    Select Transfer a pension and follow the steps.

  • Call to transfer

    Call our specialist transfers team.

A pension is an investment. Its value can go down as well as up and could be worth less than was paid in. Transferring won't be right for everyone.