Transfer my pension

Transferring your pension could make sense if you have several pensions you want to put together. It could also save you money, as you won’t be paying several charges to different providers.

Why transfer your pension?

If you’re building up pension savings with NOW: Pensions and have pensions elsewhere, you may be able to transfer them into our pension. We don’t charge you to transfer your pension savings in or out.

Alternatively, if you’re no longer working for your employer but still have pension savings with us, you could transfer them out to another pension provider.

To find out more about transferring in or out, contact us.

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If you’ve got other pensions, you may be able to transfer these in. We’ll need to check we can accept the transfer, as not all pension savings can be transferred in.

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You can transfer your pension savings out to another provider as long as:

  • you’re a deferred member, no longer paying contributions to the Scheme, and
  • the Scheme Trustee agrees you can transfer out.

We don’t charge you to transfer your benefits out, although it’s possible the pension provider you’re transferring to will make a charge. You should check this before starting your transfer.

Contact us

Financial advice

Transferring is a big step and you’ll need to think about it carefully. It’s worth getting help from a regulated independent financial adviser. Financial advice can seem expensive, but it could be money well spent if it gets you a better retirement income. For some types of pension, you may have to take financial advice before you can transfer them to another provider.

Your adviser must:


Other useful organisations

The following organisations don’t give financial advice, but they do offer free, impartial information and guidance to help you understand your pension savings. They don’t offer personalised financial advice.

  • The Pensions Advisory Service can help with questions about workplace, State or personal pensions.
  • Pension Wise has guidance on retirement options. If you’re over 50 you can book a phone or face-to-face appointment by calling 0800 138 3944.
  • Citizens Advice has information about all types of pension. You can call 03444 111 444 for a face-to-face appointment.