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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.

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Easier

Bringing your pensions together could make them easier to manage.

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Lower costs

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

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A wealth of choice

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

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Exit fee cover

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

Awarded Which? Recommended Provider for Self-Invested Personal Pensions, July 2021

Which? Recommended Providers are companies that are both rated highly by Which? the public and customers and have products that meet the high standards of Which? researchers.

 

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 need to apply to transfer by post. If that specific version of the fund is not available on our platform, your current provider may be able to convert it to a version that we both support to facilitate the transfer. If this is not possible, we will transfer the fund 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 you can access your pension.

The minimum age that most customers can access their pension benefits is currently age 55, however, the Government is proposing to increase this to 57 from 6th April 2028. The Government’s consultation document and consultation responses can be found here. Some customers may retain the right to draw benefits before age 57, however, this is dependent on the rules of their scheme as at 11th February 2021. Additionally, when a customer transfers their pension to or from another scheme, individual transfers may not be protected from the increase in the normal minimum pension age.

On the 11 February 2021 the Fidelity SIPP scheme rules stated that scheme members can access their benefits from age 55. Therefore, based on the information provided to date it is our current understanding that our pension would offer a right to access pension benefits at 55. This understanding will be formally reviewed once the full legislation and Government guidance is available.

We will publish further information on our website and in our scheme literature once the Government has published final legislation and guidance.

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.

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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.

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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?

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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.