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How to transfer in

We aim to make transferring pension benefits to your workplace pension as simple as possible.

Important notice about the proposed protected age for pension benefits

The minimum age that most members can access their pension benefits is currently age 55, however, the Government is proposing to increase this to 57 from 6th April 2028. The Government have outlined their proposals in a consultation document which can be found on the government website

In the consultation the Government propose that existing pension members, as at 11th February 2021, can have their retirement age of 55 protected for pension benefits in that particular scheme. Members do not need to do anything for this protection to be in place but do need to be able to draw their pension benefits at age 55 without any consent for example (from an employer, provider or trustee). Where a member transfers their pension to another scheme, the current proposals suggest that the protected retirement age of 55 would be lost. As this is a consultation, it is not certain that the Government will go ahead with their proposals as outlined.

Bringing all your pensions together

If you’ve built up a number of pension pots over the course of your working life bringing your pension plans together into your current workplace pension with Fidelity could make them easier to manage. We won’t charge you to transfer to us, but please note there may be exit fees or penalties when transferring from your existing provider. Once you’re ready, you can begin the process.

Transferring pensions

If you are considering transferring a pension you should consider the advantages and disadvantages of doing so.

Advantages

  • Having one provider means one set of paperwork, making it easier to manage your pension pot.
  • Competitive fees, with no charges for switching funds, to allow more of your contributions to work for you.
  • A choice of funds and fund providers with fewer retirement restrictions, if your workplace pension plan with Fidelity offers more flexibility around your pension options.

Disadvantages

  • The potential loss of any of your existing benefits including valuable guarantees.
  • Some types of transfer cannot be made without professional advice.
  • If you are in any doubt whether or not a pension transfer is suitable for your circumstances we strongly suggest that you seek advice from an authorised financial adviser.
What types of pension can I transfer?
Can I transfer a pension with guarantees to Fidelity?
Can I transfer a pension to you that I have already taken retirement benefits from?
What are safeguarded benefits?
What are ‘other benefits’?
What should I do if I still want to proceed with transferring my pension?

Advice

If you need or would like to take advice before proceeding to move your pension to us, then the specialists at Fidelity’s Retirement Service may be able to give you personal advice about transferring your pension for a low-cost, fixed fee. Call them on 0800 084 5045 to discuss your needs. They’ll base their recommendation on careful analysis of the value of your transfer in relation to your personal circumstances and goals.

Alternatively, if you prefer, you can choose your own adviser and if you need help finding a financial adviser, the Money Advice Service provides an online directory of regulated advisers: https://www.moneyhelper.org.uk/en

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 charges, features and services offered. To find out what else you should consider before transferring, please read our transfer factsheet. If you are in any doubt whether or not a pension transfer is suitable for your circumstances we strongly suggest that you seek advice from an authorised financial adviser.

Please read our transfer factsheet.

Ready to transfer your pension?

Start the pension transfer process online using your PlanViewer account.

Alternatively, you can print and complete our Pension Transfer form and return it to us to get started.

Go to PlanViewer Download form
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