Why combine your pensions?

Keep it simple

Having your pension savings in one place could make it easier to keep track of them.

Plan for the future

Bringing your pensions together could make it easier to see if you’re on track for the retirement you want.

Consolidate your plan charges

Some pension plans may have higher charges than others. Combining your pensions in one place will mean you benefit from having just one plan charge.

Why Royal London?

  • We’re the UK’s largest mutual life, pensions and investment company.

  • When we do well, we'll aim to boost your pension savings by adding a share of our profits to your plan each year, if it’s eligible. We’ve called this your ProfitShare

  • Take advantage of our innovative range of investment options, all about balancing the reward you want to get with the risk you're prepared to take.

  • Using our mobile app and online service, you can keep an eye on your pension savings whenever you like.

  • Access the three main retirement options when you’re ready to start taking your pension savings.

  • Award-winning products.

Should I transfer my pension?

Do you know where all your pensions are?

Take a minute to think about how many jobs you've had in your lifetime. The chances are, each of them came with a workplace pension, so you might have more than one pension pot with a number of different providers.

If you have pensions with other providers, they should send you a yearly statement with the key information about your plan. But if you’re not sure what you’ve got, you can read our guide to help track your old pensions down.

How to transfer your pension to Royal London

Request a transfer pack

First, answer a few questions about your Royal London pension to find out how you can request your pack.

We'll then ask for details of the pension you want to transfer and send your transfer pack by email or post.

If your employer has recently moved your workplace pension to Royal London, you might already have a transfer pack from us. Find out more about your next steps.

Authorise the transfer

It usually takes 7 to 10 days for your transfer pack to arrive.

Once you've understood the risks and benefits of transferring, you can make an informed decision. If you decide to go ahead, you need to let us know.

You can do this through our mobile app, or you can post your authorisation form back to us.

Leave the rest to us

Once we have your authorisation, we’ll sort everything else.

A transfer can take anything from 5 to 90 working days to complete, and we’ll let you know once it’s done.

You'll also be able to see the pension savings you've transferred on our mobile app.

How to start a transfer

Answer a few questions about the Royal London plan you’re interested in transferring to, and we’ll tell you how to start a transfer.

If you don’t already have a Royal London pension

Our pension products are available through financial advisers. We recommend talking about the different types of pensions available with an adviser. They can give you personalised advice and recommendations to match your individual needs and circumstances. Advisers may charge for their services, though they should agree any fees with you up front.

Frequently asked questions

Answers to your frequently asked questions about pension transfers, whether you're transferring a pension to Royal London or transferring out to another provider.

We don't charge to transfer your pension savings from another provider to us. But your current provider may apply an early exit charge to your plan. You should check with them when making your decision.

We don't charge to transfer your pension savings to another provider. But we may apply an early exit charge to your plan. We’ll let you know if this is the case.

Depending on the type of plan you hold, you may be able to complete a partial transfer, leaving the remaining funds with your current provider.

A pension transfer value is the amount your existing pension scheme will pay to your new pension provider if you choose to move your pension to a different scheme.

You are able to transfer to a pension provider overseas. The receiving provider must be Qualifying Recognised Overseas Pension Scheme (QROPS) registered for us to be able to go ahead with the transfer.

You can transfer your Royal London plan to another provider. For more information and detailed instructions on the transfer process, you should contact the pension provider you want to transfer to.