Transferring a pension is the process of moving your pension fund from your current provider over to a new provider.
There are many reasons to why someone would look at a transfer and some of these are as follows:
- If you’re paying too much in fees, a transfer to a lower charging provider or fund
- If you pension is performing poorly, the transfer to a better performing fund could help the pension get back on track
- If you have more than 1 pension, you could look to consolidate these into 1 plan as you would do with credit cards for example. This helps reduce the overall charging across the plans.
Before deciding to transfer any pensions, be sure to take advantage of our FREE advice on what you should do.
It may turn out that you already have a good plan and dont have a need to do a pension transfer.