I would like to transfer my funds out of my account with The People’s Pension into another pension. How is this done?

Firstly, because of the coronavirus outbreak, The Financial Conduct Authority has put together some important information on their website. We’d recommend you read this before making any decisions at the moment.

It’s important that you compare the charges, features and services between The People’s Pension and the pension scheme you want to transfer to, to see if it’s the best option for you. You can find out about our charging structure on our annual management charge webpage. And find out more about what you should consider before transferring by downloading our guide for defined contribution transfers.

How to start a transfer

Using Origo Options Transfer Service – this supports organisations across the industry to quickly transfer your pension pot. You can use this option if the receiving scheme also uses the service.

They’ll need to start the transfer via this system (as requests must come from the receiving party) – get in touch with the receiving scheme for more information. Transfers can be completed much quicker using this service.

We won’t charge you to move your pension savings in or out of The People’s Pension. You should check with the pension provider you’re transferring to whether they have any charges for transferring in or out.

Be aware of scammers

If you’re asked to transfer to a scheme that seems too good to be true, chances are it is. For more information, visit our website.

 

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