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Pension Transfer

Important information - the value of investments can go down as well as up so you may not get back what you invest. Eligibility to invest in a SIPP and tax treatment depends on personal circumstances and all tax rules may change in the future. The minimum age you can normally access your pension savings is currently 55, and is due to rise to 57 on 6 April 2028, unless you have a lower protected pension age. It’s important to understand that pension transfers are a complex area and may not be suitable for everyone.

Transfer a pension

Transferring a pension to Fidelity’s award-winning SIPP could help you to get your money working harder. Plus, if you’ve built up several pensions with different providers, bringing them together into our SIPP can make it easier to manage your retirement savings and ensure you’re on track for the future you want.

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Easier

Bringing your pensions together could make them easier to manage.

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Lower costs

It could be cheaper, if our service fees are less than you're currently paying.

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A wealth of choice

Thousands of funds and shares to choose from to help you reach your retirement goals.

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Exit fee cover

We cover any exit fees your current provider may charge, up to £500 per person. *T&Cs apply.

Transfer and get cashback

Having investments spread across mutiple companies can be time consuming and costly. Bringing them together means less stress and less paperwork and can help you take control of your money.

Plus, if you apply to transfer your pensions, ISAs or investment accounts to us by 28 February 2022, you’ll receive £20 to £1,000 cashback as a thank you from us. Exclusions, T&C apply

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How much cashback could I get?
Cashback terms and conditions

Our awards

We don't like to blow our own trumpet, but it's nice when someone else does. 
 

Apply to transfer

Before taking the next step, please read the following important information.

The value of investments can go down as well as up, so you may not get back what you originally invest.

It’s important to understand that pension transfers are a complex area and may not be suitable for everyone. Before going ahead with a pension transfer, we strongly recommend that you undertake a full comparison of the benefits, charges and features offered. Please read our pension transfer factsheet, the cashback T&Cs and our exit fee T&Cs. You may also wish to download our guide to moving investments.

This information is not a personal recommendation for any particular product, service or course of action. If you are in any doubt about whether or not a pension transfer is suitable for your circumstances we strongly suggest that you seek advice from an authorised financial adviser.

You should read the differences between transferring your pension online and by post as it could have an impact on your investments.

If any of the following apply, you’ll need to speak to one of our retirement specialists before transferring your pension.

  • Your pension has any safeguarded benefits or guarantees.
  • You’ve taken all or part of your tax-free allowance or pensions commencement lump sum.
  • You’re already taking an income from your pension, known as drawdown.

Please note that if your pensions are moved to us as cash, you will be out of the market while your money is being transferred, so you could miss out on growth and income if the market rises during this time. See the steps involved in a pension cash transfer.

If you would like to keep the same investments that are in your existing pension (re-register) and they’re available on our platform, then you can do this but need to apply to transfer by post. If that specific version of the fund is not available on our platform, your current provider may be able to convert it to a version that we both support to facilitate the transfer in specie. If this is not possible, we will transfer the fund as cash, which means you'll be out of the market until you choose new ones. Our customer service team on 0800 368 1722 can provide you with more information and check if your existing investments are available on our platform. See the steps involved in a pension re-registration transfer.

On 4 November, the Government published the Finance Bill 2022 and a Treasury Update, which confirmed that the minimum age that most customers can access their pension benefits will increase from 55 to 57 from 6 April 2028. Whilst it is possible for details to change before the bill is made law, the following outlines some details from the draft legislation which should be considered when transferring a pension:

  • After 6 April 2028, some customers may retain the right to draw benefits before age 57 and this is dependent on the rules of their scheme on the 11th February 2021. 
  • Customers who transfer from schemes with a Protected Pension Age of 55 on or after 4 November 2021 will retain their right to draw benefits at age 55. For customers who opened the Fidelity SIPP on or after 4 November, protection will apply only to the transferred pot and not any money they add in the future.
  • Customers who transfer from schemes with no Protected Pension Age of 55 will be able access their pension from age 55 until the 6 April 2028 where this age will change to age 57. 

Start consolidating your pensions

Call us

If you’d like to discuss transfers or would like us to send you an application form. Lines are open weekdays 9am - 5.30pm & Saturdays 9am - 2pm.

Transfer online

To find out what you need to consider before you transfer, please read the transfer factsheet.

Transfer by post

Whether you already have a Fidelity SIPP or not, you can download the relevant form below.

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How long does a pension transfer take?

If you’re moving your pension to us as cash, most leading providers use an electronic system called Origo which means your pension can be transferred electronically within about 10 business days. If your provider doesn’t use Origo then your transfer will need to be processed manually and paperwork issued by post. This can take 8 to 10 weeks to complete, but does depend on the paperwork required to be sent between the two providers.

If you’re moving your pension to us and would like to keep the same investments that are in your existing pension (re-register), this can take up to 12 weeks, but can be quicker.

See the steps involved in a pension cash transfer.
See the steps involved in a pension re-registration transfer.

Already withdrawing from a pension?

Going into drawdown with one pension provider doesn’t mean you’re stuck with them forever, and it may be worthwhile moving your pension to Fidelity. If you’d like to discuss transferring a pension in drawdown please call Fidelity’s Retirement Service.

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How to transfer your pension to Fidelity

How do I transfer my SIPP?
Can I transfer if I have taken retirement benefits from my pension?
How long does it take to transfer my pension?
Will you help pay my exit fees?
Is there a minimum transfer value?
What types of pension can I transfer?
Can I transfer a pension with guarantees to Fidelity?
What are safeguarded benefits?
What are ‘other benefits’?
What should I do if I still want to proceed with transferring my pension?
How long will it take to get my cashback payment?

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Important information - This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to an authorised financial adviser.