Transferring your pension out
You can transfer your pension to any other pension scheme
as long as the new scheme is one approved by HMRC and willing to
accept the transfer.
If you want to transfer your pension you should tell your new
scheme that you hold benefits within the Pension Scheme.
- They will approach us for a transfer value and let you know
what the benefits are worth in their scheme.
- Your new employer or pension scheme will then work with you
over whether or not you wish to go ahead with the transfer.
- If you decide that you want to go ahead with the transfer they
will ask us to pay the transfer payment over to your new pension
- There may be time restrictions in place. Check with your new
scheme as soon as you join
Deciding to transfer your benefits is an important decision. You
may wish to take independent financial advice.