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Pension Transfer

Transfer your pensions to us to help your money work harder for you and make your retirement savings easier to manage.

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 cannot normally access money in a SIPP until age 55 (57 from 2028). It’s important to understand that pension transfers are a complex area and may not be suitable for everyone.

There are many reasons why you might choose a pension transfer. Perhaps you can’t invest where you’d like to with an existing provider. Or maybe you’ve built up several pension pots with different providers and you want to bring them together to simplify managing your retirement savings. Whatever the reason, transferring a pension to our SIPP could help put you on the right track for the future you want.



Bringing your pensions together could make them easier to manage.


Lower costs

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


A wealth of choice

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


Exit fee cover

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

Our awards

We don't like to blow our own trumpet, but it's nice when someone else does.

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 what you originally invest.

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 T&Cs. You may also wish to download our guide to moving investments.

This information is not a personal recommendation for any particular product, service or course of action. If you are in any doubt about whether or not a pension transfer is suitable for your circumstances we strongly recommend that you seek advice from one of Fidelity’s advisers or an authorised financial adviser of your choice.

You should read the differences between transferring your pension as cash and transferring your investments as they are as it could have an impact on your investments.

Before you go any further

If any of the following apply to you, you MUST speak to one of our retirement specialists before starting your pension transfer.

  • Your pension has any safeguarded benefits or guarantees.
  • You’ve taken all or part of your tax-free allowance or pensions commencement lump sum.
  • You’re already taking an income from your pension, known as drawdown.
  • You plan to take your tax-free allowance or take an income from your pension after your transfer is complete.

On 4 November, the Government published the Finance Bill 2022 and a Treasury Update, which confirmed that the minimum age that most customers can access their pension benefits will increase from 55 to 57 from 6 April 2028. Whilst it is possible for details to change before the bill is made law, the following outlines some details from the draft legislation which should be considered when transferring a pension:

  • After 6 April 2028, some customers may retain the right to draw benefits before age 57 and this is dependent on the rules of their scheme on the 11th February 2021. 
  • Customers who transfer from schemes with a Protected Pension Age of 55 on or after 4 November 2021 will retain their right to draw benefits at age 55. For customers who opened the Fidelity SIPP on or after 4 November, protection will apply only to the transferred pot and not any money they add in the future.
  • Customers who transfer from schemes with no Protected Pension Age of 55 will be able access their pension from age 55 until the 6 April 2028 where this age will change to age 57. 

Start a pension transfer today

If you're thinking about transferring a pension, you need to decide which method is right for you. Regardless of which method you opt for, your cash or investments will remain in your tax wrapper and retain tax-efficiencies throughout the transfer process.

Transferring your investments as cash

Transferring your investments as they are

Simple - It’s easy to submit your request online.

Quick - It can take just 10 working days if your provider uses electronic transfers, but can take longer if they don't - see below.







Minimum change to your investments - Your current investments can be registered with us if we hold the exact same ones or very similar (in which case they may be converted). If this isn't possible, the proceeds from their sale will be transferred as cash (in which case you'll be out of the market until you choose new investments).

Your money stays invested - While you’re moving your investments over to us, you’ll remain invested (where possible). During the transfer process, the value of your investments may rise or fall - but you won't be able to make any changes if that’s the case.

What else do I need to think about?

No longer invested - While your pension is being transferred as cash, it won’t be subject to any potential growth or losses from market rises and falls. Once transferred it’s then up to you to decide what to invest in and when.

How long it takes - If your current provider doesn’t use electronic transfers, it can take up to 10 weeks to complete your transfer. And you may still have paperwork to fill out to complete the process.




What else do I need to think about?

Not guaranteed - Before you apply, it’s best to check with your current provider to see if they’re able to re-register your investments with us. If not, your investments can be transferred as cash.

How long it takes - The transfer process is complex and takes 14 weeks on average. The speed of a transfer varies, as most providers need paper instructions - including correct completion of forms and third-party responses.

Changes to investments during transfer - Depending on the provider, you won't be able to make any changes to your investments while they’re being transferred.

You can get to know more about the steps involved in a pension cash transfer and pension re-registration transfer

Before transferring a pension, please read the transfer factsheet.


Call us

Our helpful customer services team is available on 0800 368 1722, weekdays 9am - 5.30pm or Saturdays 9am - 2pm, to discuss the following:

  • Transferring your pension
  • Application forms for a pension transfer

Already withdrawing from your pension or have a pension with safeguarding benefits or guarantees?

You’ll need to speak to our retirement specialists on 0800 368 6882 Monday to Friday between 9am and 5pm.

Transferring your pension FAQs

How do I transfer my SIPP?
What is the difference between pension fund value and transfer value?
How much does it cost to transfer a pension?
Should I consider moving my pension when I move jobs?
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 one of Fidelity’s advisers or an authorised financial adviser of your choice.