Weighing up your options
Helping you decide if you should transfer your pension savings.
Did you know your pension savings with your previous provider will remain invested there?
They won’t automatically transfer to your new plan with us - you need to decide if you would like to have both of your pension savings in one place.
It can make things easier to manage by combining your pension savings, but everyone’s circumstances are different so it’s important to take time to understand the risks and benefits associated with a pension transfer.
We’ll shortly send a transfer pack explaining more about transferring your pension savings, including the risks and the things you need to think about to help you decide if a pension transfer is right for you. Having a copy of your existing pension details, to compare both plans, may help you make a decision.
As there are different things to consider you should take the time to read your transfer pack before making any decision. Transferring may not be in your best interests and some plans can’t be transferred.
When the transfer window opens we’ll be in touch to let you know and you’ll have a period of time to make your decision.
We won’t apply any additional charges if you choose to transfer although your previous provider may charge for transferring.
There are a lot of different things to consider before you decide to transfer you’re pension. If you’re not sure transferring is right for you, we recommend you speak to a financial adviser.
Once you’ve read through your transfer pack, if you decide to transfer, you need to let us know.
To keep it simple, you can tell us you want to proceed by following the instructions on our mobile app. You can download our app from the App Store or Google Play – just search for Royal London. Or you can return the form included in your transfer pack.
And once you’ve confirmed you want to go ahead, we’ll do the rest!
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