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Transferring your Workplace pension to another provider

Transferring your Workplace pension from L&G to another provider

If your scheme allows, you can transfer your pension account to another UK HMRC registered pension provider at any time. We won’t charge you to do this.

For some people, it makes sense to combine pension accounts by transferring from one plan to another as this can offer more flexibility and easier management of pension planning. However, for other people, this wouldn’t be the right choice. Some transfers are straightforward, but others can carry big financial risks.

We've listed some key points to think about before transferring your L&G pension to a new provider. We recommend seeking independent financial advice first. This can help you make informed choices about your retirement savings.

You can find financial advice in your area by visiting unbiased.com. Advisers may charge for their services. You can also get support from moneyhelper.org.uk.

Things to consider before making the decision to move a pension account

Make sure you can answer these questions before you make this important decision.

Does your employer allow you to transfer out of your L&G account?

Check your member guide or booklet, which can be found on your L&G pension plan microsite. You can find a link to your microsite in your online account or in the L&G app.

How do the fees and charges compare and will there be any cost to transferring?

Your charges for your L&G pension are - 

  • An Annual Management Charge (AMC) for administration of the pension
  • Fund Management Charges (FMC) that vary based on your fund choices

We don’t charge a fee for taking income, lump sums, switching investments, or transferring to another provider.

You can check your L&G charges in your online account or in the L&G app. You’ll find your Annual Management Charge in your annual benefit statement or in the documents you were sent when you joined the scheme. These will be in the ‘Your documents’ section and the Fund Management Charges will be in the relevant fund fact sheet, which you can find in ‘Your investments’.

Are the features of the pension accounts different?

For example, consider the investment choices, the age you can start accessing your benefits, and the options available to you at that time. You can check your retirement age and view all available funds there in your online account or the L&G app.

Will I lose a protected tax-free cash benefit?

Under current pension rules you can take up to 25% of your fund value tax-free at retirement, subject to allowances. However, you might qualify for a higher tax-free cash amount. This is called protected tax-free cash.

  • If you transfer your full pension out of L&G, you may lose any protected tax-free cash you have.
  • If you transfer only part of your pension, you will lose entitlement on the amount transferred out. Any remaining funds in the plan may keep some protected tax-free cash. This will be calculated when you next claim or transfer.

You can check for protected tax-free cash by logging into your online account and choosing 'Help' or through the L&G app.

Will I lose a protected retirement age benefit?

The Protected Retirement Age (or PRA) is a benefit available to some L&G customers, and provides a 'protected right' to retire from a specific age. This is typically lower than the normal minimum pension age at any given time.

The Protected Retirement Age entitlement may be lost if you transfer your pension account out of L&G. You can check whether your scheme has a protected retirement age by logging into your online account and selecting 'Help' or in the L&G app.

National Minimum Pension Age (NMPA) changes

In April 2028, the minimum age that you can access your private pension is increasing from 55 to 58. Depending on your pension product, your benefits may be protected from this increase allowing you to still access these funds at age 55 after the new law has passed. If you choose to transfer your pension to another provider, you may lose this protection.

Can I continue contributing to my L&G pension account?

If you are moving all of your pot you should only make the request when all pension contributions have been received and invested. There may be tax consequences if we have to return the contributions to you after the plan is closed. If your scheme allows partial transfers, the minimum amount you can transfer to a new provider is £2,000 and you must leave a minimum of £100 in your L&G pension account to keep it open.

To continue contributing following a full transfer, a new L&G pension account will need to be set up by your Employer.

Are you aware of potential tax implications?

If you are transferring a pension to a UK registered scheme, there are no tax charges. However, if you want to transfer to a Qualifying Recognised Overseas Pension Scheme you may have to pay a 25% tax charge depending on whether you live in the same country as the receiving scheme. While we will check whether the receiving scheme is HMRC registered, it's a good idea for you to ask for proof from the receiving scheme before requesting the transfer.

Do you know how to protect yourself from pension and investment scams?

If you're not sure, please refer to legalandgeneral.com/protectyoursavings. Some scams look genuine - always check your firm is covered by the Financial Services Compensation Scheme.

Also watch out for investments that seem too good to be true. For more information visit fca.org.uk/consumers/scams.

Beware of:

  • Unsolicited contact offering transfers
  • Pressure to act quickly or promises of guaranteed returns
  • Claims about accessing pension funds before 55 without medical grounds

If we have concerns, we might ask you to get guidance from MoneyHelper before the transfer can proceed.

How do I start the transfer from L&G to a new provider?

The first thing to do is contact your new provider to start the process and check with them to see if they use the Origo Transfer Service. Using the Origo Transfer Service is the quickest and easiest way to complete a pension transfer. The new provider will initiate the request in Origo and we’ll pick it up and process it from there.

You can find a list of Origo users here
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Please check that your contact details and personal information are up to date. They should match what your new provider has. This helps us process your transfer quickly and avoids delays. Log in to your online account or the L&G app to check and update your details.

We have a responsibility to protect our members

This means that sometimes, we need to perform extra checks or ask for more information to meet regulatory requirements. This may delay your transfer, and we appreciate your patience and cooperation during this process.

If your new provider uses Origo

Your new provider will start the process in Origo and we’ll pick it up from there.

We will do some checks and may need further information. We’ll contact you if we need anything.

We will send your money directly to the new provider.

Transfers like this usually take 5 to 10 working days after we receive the request and all the information we need.

If your new provider doesn't use Origo

Request a Transfer Out pack from us. We’ll send you the forms and instructions. Let us know if the new provider is overseas.

Complete the Transfer Out pack. If you’re over 49, also fill out the Pension Guidance form.

Send our pack, with the completed forms, to your new provider.

Your new provider will fill out their section in the transfer paperwork and send it back to L&G.

When we get the completed documents, we will review the request.

If we need more information or have questions, we will contact you. This may include extra checks on the new provider.

We will send your money directly to the new provider.

Transfers done this way may take longer, especially if forms are sent and received by post. This is typically 15 days or more providing we have all the information we need.

Other questions

The scheme you are transferring to must be recognised by HMRC as a Qualifying Recognised Overseas Pension Scheme (QROPS). Check the recognised overseas pension schemes notification list. While we will check whether the receiving scheme is HMRC registered, it's a good idea for you to ask for proof from the receiving scheme before requesting the transfer.

You can transfer your pension pot to any pension scheme registered with HM Revenue & Customs (HMRC). If you transfer to a scheme that’s not registered with HMRC, this is known as an unauthorised payment and you will have to pay a tax charge of 55%. We will do all we can to check that your new pension provider's scheme is registered and will not pay such a transfer should we find the scheme to not be registered. 

Similarly, if you transfer your benefits to a UK registered pension scheme that does not provide you with benefits consistent with the law applicable to such schemes (for example, paying your entire benefits as cash, or paying any benefits at all before you reach age 55 unless due to ill health), any such payment made would also be an unauthorised payment and you will have to pay a tax charge of up to 55%.

You will need to check if your new pension provider’s scheme is a registered pension scheme and adheres to current UK pensions law and regulation. 

Legal & General cannot be held responsible for the consequences of registered pension schemes not administered by Legal & General making payments in this way. For more information visit the HMRC website at hmrc.gov.uk. 

If you have already claimed your pension and some or all of your money is currently invested in a drawdown or flexible access plan with L&G, as long as your new scheme allows, your money that is currently invested in this way can only be transferred into a drawdown or flexible access plan elsewhere.

You can follow the above process for transfers of this type, but the timescales will be longer.

You can transfer a pension into an existing L&G account by logging into your online account or in the L&G app and by clicking on the ‘Transfer in a pension’ link. 

If your scheme allows partial transfers, the minimum amount you can transfer to a new provider is £2,000 and you must leave a minimum of £100 in your L&G pension account to keep it open.