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Transfer your old pensions

Penfold apps showing pension transfer, find lost pension and pension dashboard screens

Why transfer pensions?

Save money

You may be able to reduce the charges you’re paying for pension management and accessing your pension pot when you retire.

Learn about our pension fees.

More choice

Does your current pension invest in a way that suits your attitude to risk? Do they offer sustainable or Sharia options?

Explore our pension plans.

Less admin

By combining pensions you'll reduce the number of accounts you're tracking, have less paperwork and fewer passwords.

Find out more reasons to combine.

Step 1. Get a Penfold account

Sign up for free online or with our app - simply enter your email address, set a password and give us a few personal details to get an account.

Pick an investment plan - a choice of funds and risk levels or an option that adjusts risk as you approach retirement automatically.

Add some legally required information like your employment status and National Insurance number.

Penfold apps showing pension account setup and welcome screens.

Step 2. Tell us about your old pensions

If you’re signing up, tap the Add existing pension card when you get to the Add Money page or if you’ve already signed up tap the Transfer Your Pension card on the dashboard screen.

Missing your details? Tap Find My Pension. Then enter the name of the previous employer your pension was with - we’ll tell you which provider(s) administered your pension.

Have your old pension details? Tap Add Existing Pension. Then enter the pension provider, policy number and an approximate account value. Then tap submit and we’ll do the rest!

We won’t charge you for transferring your old pensions, making contributions or withdrawals.

Penfold apps showing pension transfer and find lost pension screens

Step 3. Sit back and relax

Our specialist pension transfer team will start contacting your previous pension providers to begin the process of moving your savings into your Penfold account.

Pensions can be confusing. Our friendly customer service team are on hand to answer any question you have, and we promise no jargon. Just drop us a message on chat, email us or give us a call.

Penfold apps showing customer service chat and pension FAQs screens

Manage your pension

We’ll let you know how your transfer is progressing every step of the way with updates to the transfer cards on our app and website's dashboard screen. Once you’re with Penfold you’ll easily be able to:

  • See how far you're progressing towards your annual savings goal and total pot value
  • See your account activity - transfers, contributions and tax relief
  • Refer friends and family to get a £25 bonus
  • Find out more about the plan your savings are invested in and change anytime

Change your mind anytime - we won’t charge an exit fee.

Penfold apps showing pension dashboard and pension contribution history screens

It's important to compare providers’ fees & any guaranteed benefits when deciding on whether to transfer, and be sure that the investments available are suitable for you. We cannot accept defined benefit pension transfers. If you decide to close your Penfold account and the value of your pot has gone down, the amount returned to the provider may be less than what you originally transferred.

Please know that if your employer is paying into your pension currently, transferring that pot may mean you lose out on their contribution. For more information on the risks see here.

FAQs

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Join thousands of happy pension savers

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