Can i transfer my pension to another provider?
| Related: | Personal Finance•Investing•Pensions |
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Answers (2)
Hi, yido, and welcome.
The answer to your question is `yes`, but this is a big decision that could end up costing you a lot, or maximising your returns.
I would strongly recommed you consult an IFA who will give you the best advice for your individual circumstances.
Hope this helps.
As far as I am aware, you cannot transfer a pension out, only to another provider.
That's my understanding too HSP, happy to be corrected by anyone who knows different
You are both correct. Once money is committed to a pension it is there until retirement when you have to buy an annuity. The only exception is if terminally ill. You can transfer to another pension provider but the transfer rate can be up to a third below present value.
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