If you’re thinking of transferring your pension to another provider, there are some things you should consider:
- Remember, just because you’re leaving your employer, doesn’t mean you have to transfer out.
- Make sure there are no valuable benefits you may lose if you transfer.
- Compare the fees and charges of your new provider with those of your current pension.
- Ensure that your new provider doesn’t restrict some of your retirement options. Like the ability to take tax-free cash at age 55. This can be especially important if you’re retiring soon.
- If your pension contains certain benefits (usually a guaranteed income) you may need to take appropriate financial advice if you want to transfer out. We will inform you if this applies to you.