A pension is a long-term investment. Its value can go down as well as up and could be worth less than was paid in. Laws and tax rules may change in the future. Your own circumstances and where you live in the UK will also have an impact on tax treatment.

Why transfer a pension plan?

When it comes to retirement planning, it’s helpful to know just how much money you have saved. You want to know exactly how much money you could have to live on when you choose to retire, but that could get tricky if you’ve got more than one pension plan with different providers.

Typically, if you’ve had a number of jobs over the years, you could have been auto-enrolled into several different pension plans. You might have lost the paperwork or policy numbers along the way, but the good news is that there are steps you can take to find all your pensions using the Government's free pension tracing service .

Once you have everything and if it feels right, you can then transfer all those pension plans together in one place.

Here’s why a pension transfer might be a good idea:

  • More control: You’ll be able to see all your pension savings in one place. It can make it easier to review, manage monthly payments and see if you’re on track for retirement.
  • More value: You could have a better range of investment choices and lower annual charges. You could even get a discount for having a bigger pension pot.
  • Easier planning: Having all your savings in one place could make it easier to decide how you want to take your money when you get closer to retirement.

Important things to know before you transfer

Transferring isn’t right for everyone. There are a few things to think about that can help you decide if it’s right for you:

  • There’s no guarantee that your retirement income will be better by transferring into one plan.
  • You could lose the valuable benefits or guarantees held with your existing plans after transferring.
  • It’s worth comparing the charges and range of investment choices between your current pension plans and the one you want to transfer to.
  • If you’re in poor health it might not always be a good idea to transfer, as the pension could be liable for inheritance tax if you die within two years of transferring.

Standard Life pension transfers

Transferring to a Standard Life pension is easy. You could have more control of your combined pension plans in just a few weeks.

To help speed up your pension transfer, it would be useful to have the following information about each of the pension plans you’re thinking about transferring to us:

  • Your latest pension statement for each provider
  • And/or a recent valuation statement, if you have one

Don’t worry if you haven’t got everything to hand. If you’re missing any details, we can still summarise your transfer at the end of the application process. You’ll just need to contact your pension company to fill in the blanks before we start the transfer.

If you can’t find details of an old or lost pension plan, you can use the free Pension Tracing Service .

You can find out more about the Standard Life Active Money Personal Pension and our range of investment options here:

Ready to transfer a pension plan?

If you feel a pension transfer to Standard Life is right for you, there are two ways to get started:

With a Standard Life account

You can log in and visit our pension transfer section to get started.

Not registered yet? No problem. Simply choose the sign up option below and we can get you set up for free, secure online services.

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If you’d rather sign up over the phone, you can give us a call on:

0345 606 0098

Call charges apply.

With the Standard Life app

You can transfer a pension plan to us with the Standard Life mobile app on iOS devices like iPhone or iPad, as well as Android phones.

You can download the apps using the buttons below. It’s quick, easy and secure.

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The decision about transferring must be yours. If you're unsure about transferring you should seek financial advice. Your financial adviser will probably charge for this advice. You can also find out some more information from the Money Advice Service .

There may be certain circumstances where you will be required to take financial advice.

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More about pensions

We’re here to help you get the most from your pension plan and retirement savings. We’ve got even more guides, tools and products to help you reach your goals.