Transfer your other pensions
If you’ve worked for more than one employer, it’s likely you’ll have several pensions. Transferring them into your account with The People’s Pension – at no charge from us, could make keeping tabs on them a whole lot easier.
Why should I transfer my pension?
Watch our video
The People’s Pension charge you just:
50p a year (0.5%) for every £100 of the value of your account.
The less you pay in charges, the more of your money is invested.
Even small differences in charges can have a significant impact on the value of your pension pot at retirement.
Track the performance of your pension pot online
Your Online Account shows you how your pension savings are doing, plus you can…
Manage your pension savings online like your bank account
Boost your pension pot by saving more, or change how your money is invested
Tell us who we should consider passing your savings to if you die before you take your pension savings – that could be people or organisations
Change your selected retirement age
Transfer other pensions into one place with The People’s Pension
Keeping your details up to date will be a lot simpler
Moving house is hassle enough, so notifying just one provider is a handy time saver.
Instead of a pile of statements, you’ll get one a year as a simple overview of your pension savings.
It’s easier to keep track of one pension pot, and clearer to see how much your total pension savings are worth.
We’ll do all the work for you
Contact your existing pension provider
Request the relevant forms from the provider (if required)
Make arrangements to ensure your pension savings are transferred
Contact you and let you know once the transfer is complete.
You may like a personalised illustration before you transfer, just let us know and we’ll send you one. Although we don’t give financial advice, we’ll be happy to do everything we can to help you.
Important things to consider
This is not a recommendation from B&CE to transfer your pension savings. The Trustee of The People’s Pension and B & C E Financial Services Limited (who administer the scheme) are not able to offer advice on whether or not you should transfer.
Transferring may not be suitable or available for everyone. Whether it’s right for you will depend on many factors such as personal circumstances, the nature of your other pension arrangements, whether you are planning to access your pension savings in the next five years, whether you could be giving up a guaranteed benefit – such as guaranteed annuity rates, the cost of transferring or whether the provider you are transferring from applies a charge, be that a fund or a contract charge.
If you are transferring your funds out of an occupational or company pension scheme this may be more complex than transferring a personal pension, especially if it is a ‘defined benefit’ scheme. We recommend you read the Money Advice Service’s information on transferring out of a defined benefit pension scheme before obtaining financial advice and making a decision.
It’s important that you compare the charges, features and services between the pension you want to transfer and The People’s Pension to see if it’s the best option for you. If you are unsure about transferring, we recommend you speak to a financial adviser. To find your nearest adviser, you can visit www.unbiased.co.uk.