I'm thinking about transferring my pension

Exploring the options available elsewhere may lead to something that works better for you.

It’s good to know all of the options available to you when you take your pension and you might find that another arrangement offers an option that better suits your financial circumstances. But it’s important to understand the consequences of making this choice and to be vigilant about where your pension is being transferred

You can only transfer your pension to another pension arrangement if it’s registered with HMRC. This could be:

  • Your new employer’s scheme (if it’s able and willing to accept transfers in); or
  • A personal pension arrangement; or
  • An overseas pension arrangement.

Over the next few pages, we explain what it means to transfer your benefits from the Scheme to another arrangement.