Steps involved in a re-registration pension transfer
Your transfer options
With this transfer option you can keep the same investments that are in your existing pension (re-register), so long as they’re available on our platform. This means your money remains invested while the transfer takes place. Please note though that any investments not supported by Fidelity will be sold and moved as cash, which means you'll be out of the market until you choose new ones. Our customer service team on 0800 368 1722 can check if your existing investments are available on our platform.
You also have the option of a cash transfer where the assets with your old provider are sold and the proceeds transferred to your Fidelity SIPP as cash. Once complete, you then simply choose new investments online to go in your SIPP. To see the steps involved in a cash transfer please click here.
How it works
The timings below are approximate for re-registration transfers. All re-registrations need to be applied for by post.
The length of time it takes to complete your transfer will depend on a number of factors, including:
- how your original provider set your pension up
- the number of individual funds you are transferring
- how quickly your current pension provider responds to our requests for information
- whether your current provider and individual fund providers use electronic transfer systems.
Currently, a small number of industry leading providers use an electronic transfer system, which means your pension can be transferred electronically, however you will still need to make your initial application to re-register your pension by post. In the event your provider does not use an electronic transfer system, your transfer will need to be processed manually and paperwork will need to be issued by post. Electronic pension transfers go through the same steps as manual pension transfers, but as this is automated, you will not be required to complete or return any forms to us, apart from your initial application, and it is likely that the re-registration will complete much faster. Please note though, you may also receive paperwork directly from your current pension provider asking you to confirm your intention to transfer your pension.
The same applies to any of the individual providers you hold investments with in your pension. If any of these do not use an electronic transfer system, then those particular investment transfers would need to be processed manually and issued by post.
Working together to make it happen
Covid-19 is causing many firms to make adjustments. And while we're doing all we can to ensure your transfers are not impacted, we may experience delays from the providers you're transferring from. This might mean it'll take a little longer to transfer your investments to us, although please know that we're doing our best to keep everything on track.