Skip to main content
Step 2 icon

Getting your pensions into one place

If you have pension pots with previous employers, you can normally transfer them into your current workplace plan. There could be benefits to combining your pension pots, including:

  • Saving money: charges may be lower.
  • Having more choice: investment options may be better.
  • Having more access and support: such as online access that helps you track and manage your investments in real time.
  • Saving time: dealing with fewer pension providers can save valuable time whenever you want to make changes.

But having your pension savings in one place might not be right for everyone. If you are considering transferring your plan to us, we recommend you read the  Guide to pension transfers.

Be scam smart

Pension scams are on the increase and your pension can be lost in moments. Scammers can look and sound credible no matter how savvy you are, so be aware of the warning signs.

Scam tactics often include contact out of the blue, promises of high/guaranteed returns, free pension reviews, early access to your pension and pressure to act quickly. To find out more about how pension scams work, how to avoid them and what to do if you suspect a scam, please read the ScamSmart leaflet (PDF) and visit Financial Conduct Authority’s ‘ScamSmart’ website

How to transfer another pension...

As long as you know the name of the pension provider, you can use our free pension transfer service, provided by My Future Now (MFN). 

It's a simple way to combine all your pension pots in one place, making it easier to plan your retirement income and potentially save on pension management charges. 

You can set up the transfer online from your laptop, tablet or mobile and there's no obligation to proceed. 

My Future Now is part of Legal & General Workplace Savings. 


Watch the video for information about combining pensions into one place and how to get help tracking down lost pensions.


Getting advice

There are a few things you need to consider before you decide to combine your pension pots. For example, consider the charges for each plan, whether there are any penalties for transferring, whether there are any benefits or guarantees you might lose if you move your money and what options are available at retirement.

We would always recommend taking financial advice to make sure that transferring is the right thing for you. You can find an adviser in your local area at unbiased.co.uk. Financial advisers usually charge a fee for their services, but it will be personal to you and your circumstances.

We will only accept a transfer payment from a pension scheme that has safeguarded benefits or is invested in a With Profits Fund, if you have received financial advice that recommends you make the transfer.

Safeguarded benefits include some sort of guarantee about the rate of secure pension income that you, or your survivors, might receive. Examples include:

  • Defined Benefit scheme (referred to as final salary schemes)
  • Has a Guaranteed Annuity Rate
  • Has a Guaranteed Minimum Pension

You may be able to transfer from a defined benefit pension scheme without advice if the value of your transfer is under £30,000. You should be aware of the risks of transferring from a defined benefit pension scheme and understand the consequences of doing so. Please contact our helpline on 0345 070 8686 for further information.

Call charges will vary, and we may record and monitor calls.

We also cannot accept a transfer from a plan that is in income drawdown or flexi-access drawdown. You can check if any of these apply to you on your most recent pension statement from your previous provider.

Guide to pension transfers

This explains what you should think about when deciding whether to transfer an old pension plan.

Manage your account

Keeping up to date with your pension savings is easy with our online service, Manage Your Account.

Finding lost pensions

You can find lost pension pots through the Pension Tracing Service.