Skip Header

Pension Transfer

Important information - the value of investments can go down as well as up so you may not get back what you invest. Eligibility to invest in a SIPP and tax treatment depends on personal circumstances and all tax rules may change in the future. You can't normally access money in a SIPP until age 55. It’s important to understand that pension transfers are a complex area and may not be suitable for everyone.

Transfer a pension

Transferring a pension to Fidelity’s award-winning SIPP could help you to get your money working harder. Plus, if you’ve built up several pensions with different providers, bringing them together into our SIPP can make it easier to manage your retirement savings and ensure you’re on track for the future you want.

None

Easier

Bringing your pensions together could make them easier to manage.

None

Lower costs

It could be cheaper, if our service fees are less than you're currently paying.

None

A wealth of choice

Thousands of funds and shares to choose from to help you reach your retirement goals.

None

Exit fee cover

We cover any exit fees your current provider may charge, up to £500 per person. *T&Cs apply.

Apply to transfer

Before taking the next step, please read the following important information.

The value of investments can go down as well as up, so you may not get back the amount you originally invest. Eligibility to invest in a SIPP or Junior SIPP and tax treatment depends on personal circumstances and all tax rules may change in the future. You cannot normally access money in a SIPP until age 55.

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. Please read our  pension transfer factsheet and our exit fee terms and conditions. You may also wish to download our guide to moving investments

This is not a personal recommendation for any product, service or course of action. If you are in any doubt about whether a pension transfer is suitable for your circumstances we strongly suggest that you seek advice from an authorised financial adviser.

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. The value of your investments may also be impacted by the volatility we’re experiencing at this time. See the steps involved in a pension cash transfer.

If you would like to keep the same investments that are in your existing pension (re-register) and they’re available on our platform, then you can do this but you need to apply to transfer by post. Any investments not supported by Fidelity will be sold and moved to us 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 provide you with more information and check if your existing investments are available on our platform. See the steps involved in a pension re-registration transfer.

Important notice: The Government is consulting on potential changes to the age when you can access your pension
The Government is proposing to increase the age you can access your pension from 55 to 57.
The proposal says that anything you‘ve saved in a pension as of 11 February 2021, you can still receive at age 55. However, if you transfer your pension elsewhere, you will have to wait until 57. Customers who will be 55 after 6th April 2028, and open a pension after the 11th February 2021, could have to wait until they are at least 57 before accessing their pension savings without incurring additional tax charges (unless they are taking their pension due to ill-health). This is still a proposal and it’s not yet certain if it will go ahead as outlined. You can read the proposal here.

Start consolidating your pensions

Call us

If you’d like to discuss transfers or would like us to send you an application form. Lines are open weekdays 9am - 5.30pm & Saturdays 9am - 2pm.

Transfer online

To find out what you need to consider before you transfer, please read the transfer factsheet.

Transfer by post

Whether you already have a Fidelity SIPP or not, you can download the relevant form below.

None

How long does a pension transfer take?

If you’re moving your pension to us as cash, most leading providers use an electronic system called Origo which means your pension can be transferred electronically within about 10 business days. If your provider doesn’t use Origo then your transfer will need to be processed manually and paperwork issued by post. This can take 8 to 10 weeks to complete, but does depend on the paperwork required to be sent between the two providers.

If you’re moving your pension to us and would like to keep the same investments that are in your existing pension (re-register), this can take up to 12 weeks, but can be quicker.

See the steps involved in a pension cash transfer.
See the steps involved in a pension re-registration transfer.

Already withdrawing from a pension?

Going into drawdown with one pension provider doesn’t mean you’re stuck with them forever, and it may be worthwhile moving your pension to Fidelity. If you’d like to discuss transferring a pension in drawdown please call Fidelity’s Retirement Service.

None

How to transfer your pension to Fidelity

How do I transfer my SIPP?
Can I transfer if I have taken retirement benefits from my pension?
How long does it take to transfer my pension?
Will you help pay my exit fees?
Is there a minimum transfer value?
What types of pension can I transfer?
Can I transfer a pension with guarantees to Fidelity?
What are safeguarded benefits?
What are ‘other benefits’?
What should I do if I still want to proceed with transferring my pension?
How long will it take to get my cashback payment?

Related articles

How will you use this year’s ISA allowance?

Take the time to consider what works best for you


Toby Sims

Toby Sims

Fidelity Personal Investing

Is the UK this year’s investment hot spot?

Britain looks well set if the recovery continues


Graham Smith

Graham Smith

Market Commentator

See in the new (tax) year with a pension refresh

Upcoming changes mean it could pay off to pay in more


Ed Monk

Ed Monk

Fidelity Personal Investing

Important information - This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to an authorised financial adviser.

1Source: Fidelity International at 31.12.2020