Transfer your pensions

Keeping track of your retirement planning and savings can be a challenge. We can help make it easier by consolidating your pensions.

It’s easy in today’s job-hopping workforce to build up numerous pension pots with different employers. Bringing your pensions together in a flexible, Self-Invested Personal Pension (SIPP) can help you to take control of your retirement savings.

Consolidating your pensions together in one place can make it easier to manage and keep track of your retirement savings, helping you to plan ahead more effectively - and it could be cheaper, with lower service fees than you're currently paying.

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 benefits, charges and features 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.

Call us

If you have any questions or would like us to send you an application form

Call 0800 368 1727

Apply by post

Just download an application form, fill it in and send it to us at the address on the form.

I have a Fidelity SIPP
I DON’T have a Fidelity SIPP

If you’d like to discuss transferring a pension, or require any guidance or support, our UK based team will be happy to help. Just call 0800 368 1722.

Not convenient to call now? Give us your details and we’ll call you

Please note: if your query is not in relation to a pension transfer you should call our Customer Services team on 0333 300 3350.

Please note that if your pensions are moved to us as cash, you will be out of the market while your money is being transferred, so you could miss out on growth and income if the market rises during this time. If you transfer investments that are not supported by Fidelity, they will be sold and moved to us as cash, which means that you will be out of the market until you choose new investments. If your existing pension provider has signed up to an industry accepted paperless transfer service your transfer should be completed in about 10 business days. If not, the transfer could take 8 to 10 weeks but could be longer as the process is reliant on prompt action by your existing providers whose time frames can be variable.

The value of investments can fall as well as rise, so you may get back less than you invest. This information is not a personal recommendation for any particular product, service or course of action. 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.

Remember, you won’t normally be able to access money invested in a SIPP until the age of 55.

Get your pensions and investments working harder

Plus get £20 to £1,000 cashback. Exclusions, T&Cs apply.

How to transfer your pension to Fidelity

How do I transfer my SIPP?

Transfer your pension to Fidelity in three simple steps.

  • Step 1: We’ll ask you for your details and those of your current pension provider(s). You can transfer up to ten pensions at a time.
  • Step 2: You can choose your investments when you apply, during the transfer process, or once we receive your transfer application. If the investments you hold in your existing pension are offered by us and your existing pension provider allows the transfer, we can move your pension into the same funds that you currently hold. If not, you can choose to have your investments transferred to the Fidelity SIPP as cash, and then you can decide.
  • Step 3: Review your details and confirm the transfer.

When we receive your transfer application we’ll send you a confirmation, then contact your providers to arrange for your investments (or cash) to be brought into your Fidelity account. Please be aware that you may be out of the market while the transfer takes place, so you could miss out on any growth or income that occurs while we complete your request.

Can I transfer if I have taken retirement benefits from my pension?

Before you apply to transfer a pension you’ve taken retirement benefits from, you must speak to Fidelity's retirement service. They’ll discuss the transfer with you and prepare the application form.

We’re unable to accept an online application for these types of transfer.

How long does it take to transfer my pension?

  • Applying online only takes a few minutes.
  • The transfer should take about 10 working days, if your current provider acts promptly and has signed up to an industry-accepted, paperless transfer service; if the provider hasn’t signed up for paperless transfer it could take up to 10 weeks, possibly more.
  • You can view your order for each transfer request and track its progress online; for example, you can see if we’re waiting for the company you’re moving from to send us information or a payment.
  • Please remember that, once the transfer has begun, you may be unable to switch, top up or sell the investments you’re moving, until the process is complete.

Will you help pay my exit fees?

When you move your investments (minimum of £1,000) to us, we’ll reimburse any exit fees that your former providers charge you, up to a maximum of £500 per customer. Of course, you need to decide whether these fees will impact the future value of your pension.

Read the terms and conditions.

Download and complete the short Exit Fees Reimbursement Form

Send the form to us at:
Fidelity International,
P.O. Box 80,
TN11 9YA.

Please remember, you still need to complete the transfer application process online and qualify for the reimbursement.

Is there a minimum transfer value?


  • If the transfer is from another pension provider and you’re going to immediately start taking money from it, the minimum is £50,000.
  • For all other transfers the minimum is £1,000. This includes:
    • a cash-only transfer
    • a combination of cash and existing pension funds
    • a pension that you’re already taking money from
    • an existing pension fund whether it is all of your fund holdings or a selection.
  • If you have an existing Fidelity SIPP and want to transfer other pensions into it, unless you’re not already taking, or are about to take, money from them, the minimum transfer amount is £1,000.

What types of pension can I transfer?

You can transfer a wide range of pensions to Fidelity.

  • Personal pensions
  • Self-Invested Personal Pensions
  • Stakeholder pensions
  • Defined-contribution occupational schemes
  • Pension schemes already paying a retirement income (pension drawdown plans)
  • Free-standing additional voluntary contribution (FSAVC) plans
  • Executive pension plans (EPPs)
  • Section 32 (buyout) plans
  • Defined benefit schemes (for example final salary pension schemes)
    Please read next question regarding advice requirements for this type of pension.

If you are in any doubt about the suitability of a pension transfer or investment you should speak to an authorised financial adviser.

Can I transfer a defined benefit (final salary) pension scheme to Fidelity?

You’ll need to have taken appropriate financial advice if you’re transferring from:

  • any defined benefits scheme (for example final salary pensions)
  • any arrangement that has safeguarded rights (see below for details)
  • any arrangement that has a guarantee you could lose on transfer. Please read next question regarding advice requirements for this type of pension.

If any of these applies to you, we’ll need to see evidence of the advice you’ve received confirming it’s in your best interest to transfer your current pension away.

If we identify any valuable benefits during the transfer process we’ll notify you and explain what we need from you before we can continue with your application. However, this could delay us in processing your application.

For a low-cost, fixed fee, we can give you personal advice about transferring your pension. Call us on 0800 084 5045 to discuss your needs. We’ll base our recommendation on careful analysis of the value of your transfer in relation to your personal circumstances and goals.

If you prefer, you can choose your own adviser and get them to complete and return the Third Party Advice Declaration to us, so we can process your request.

For more information about which pensions you must take advice on before you transfer, view the Pension transfer factsheet.

If you are in any doubt about the suitability of a pension transfer or investment you should speak to an authorised financial adviser.

What are safeguarded benefits?

Some pensions, typically older ones, contain guarantees regarding the level of income you’re entitled to when you retire. These policies are valuable today as many were written at a time when interest rates were much higher and people weren’t living as long. With lower interest rates and higher life-expectancy, the guaranteed income from these plans is often much better than you could buy if you shopped around.

These are usually considered to be safeguarded benefits:

  • Defined benefit (sometimes known as final salary or career average) pension
    Pays a retirement income based on your salary and how long you’ve worked for your employer. Generally only available from public sector or older workplace pension schemes.
  • Guaranteed annuity rate (GAR)
    A valuable guaranteed income sometimes offered by your own pension scheme or provider if you take a lifetime annuity with them.
  • Guaranteed Minimum Pension (GMP) or Reference Scheme Test benefits (RST)
    If you have a GMP or RST, you originally built up pension rights in an employer’s scheme that was contracted out of the Additional State Pension.
    When this happened the new scheme had to promise to provide you with a pension broadly equivalent to the state pension you would have received under the Additional State Pension.
    You may not be able to take these benefits early unless the pension pot is already large enough to cover the cost of providing the pension.

Similarly, you may not be able to transfer a pension containing GMP or RST to another scheme unless the transfer value also covers the cost of providing the GMP or RST. When you transfer a pension containing GMP or RST to another pension scheme, that scheme has no obligation to provide benefits on the same basis.

Why choose Fidelity

All your investments in one secure place

24/7 online access to your investments with one login and one online statement

Value for money

We offer some of the best charges in the business, with a typical service fee of 0.35%. Bringing all your investments together could even lift you into our Wealth category, with a 0.2% service fee

No exit fees

It’s free to transfer, and we’ll even cover any exit fees you may incur, up to a total of £500 per person (T&Cs apply)

Moving your investments to Fidelity guide

Read the guide

Find out more about moving your investments to Fidelity.

Related articles