You can usually transfer a pension to Royal London online. To get started, you'll need details of the pension you want to transfer, including your plan number, provider name and current transfer value.
Once you've applied for a transfer, we'll contact your existing provider and usually manage the process for you. Most transfers take between 4 and 12 weeks, but more complex or overseas transfers can take longer.
If you're not sure whether transferring your pension is right for you, read our guide should I transfer my pensions? or get financial advice before making a decision.
Remember
Combining your pensions doesn't mean you'll necessarily get a higher income or bigger pension pot.
Your pension is invested, so it's value can go down as well as up, and you could get back less than invested.
What information should you have ready?
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Plan details
Find the name(s) of your provider(s), your plan number(s) and check your existing plan for benefits like a Guaranteed Annuity Rate, loyalty bonuses or protected tax-free cash. They could be lost if you transfer.
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Pension transfer value
Get an up-to-date value for the pension you want to transfer and let us know if you want to do a full or partial transfer.
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Personal details
We'll need some personal details so we can request the transfer from your other provider.
How to apply for a transfer
Our transfer process makes it easy to move your pension savings to Royal London.
1. Log in to get started
Start by logging into the transfer hub or our mobile app.
Royal London personal pensions are available through financial advisers. If you don't already have a pension with us, you'll need to speak to a financial adviser.
2. Choose which plan to transfer into
The first step, is to tell us which Royal London plan you want to transfer into.
You can apply to transfer any pension plans you have with other providers or combine any pension plans you already have with us. Some older pension plans can't be transferred online. If you aren't able to transfer online, please get in touch.
3. Review your transfer illustrations
It's important to understand how the transfer could affect your pension savings and what they could be worth at retirement.
A transfer won't necessarily increase the value of your pension, so it's worth comparing charges, investment options and any guarantees or special features before making a decision.
- Personal pensions: we’ll email you a personalised transfer illustration within five working days of receiving your transfer request. You’ll then need to confirm whether you want to proceed with the transfer. The illustration shows how the transfer could affect your pension savings and what they may be worth at retirement.
- Workplace pensions: you'll review example transfer illustrations within the transfer hub or mobile app as part of your transfer journey. Once you've reviewed the information, you'll be asked to accept a declaration before completing your transfer request.
The annual management charge (AMC) on the plan you're transferring into, which covers the ongoing cost of managing your pension, will also apply to your transfer. You can check your AMC at any time using our online service or mobile app.
4. Tell us about your other pension
We'll ask you a few questions about the plan you want to transfer. If you have multiple pensions to transfer, you can add these later in the process.
We'll need:
- The name of your pension provider
- Your plan number
- Details of any features or benefits that apply, like a guaranteed annuity rate or protected tax-free cash.
You can usually find this information in your annual statement, original pension paperwork, or by contacting your provider.
Once you've submitted your transfer request, we'll check if it's eligible and let you know right away.
5. We'll start the transfer
Once we accept your application, we'll contact your existing provider to arrange the transfer. To help speed things up, you may want to check they have all the details they need to process the transfer.
Most transfers take between 4 and 12 weeks, depending on how quickly your other provider responds. You can contact us at any time for an update.
6. We'll let you know when it's complete
Once your transfer is complete, we'll let you know. You'll also be able to see the details of your transfer online.
Ready to transfer?
Log in or open your mobile app to start an application.
Frequently asked questions
What types of pensions can I transfer?
You can transfer a wide range of pensions to Royal London, including:
- Personal pensions
- Self-invested personal pensions (SIPPs)
- Stakeholder pensions
- Group personal pensions (GPPs)
- Group stakeholder pensions
- Occupational money purchase schemes, including master trusts
Some pensions include valuable benefits or guarantees that could be lost by transferring. If yours does, we may not be able to accept the transfer. If you're unsure if your plan has any valuable benefits or guarantees, contact your pension provider or consider speaking to a financial adviser.
Can I combine two or more of my Royal London pensions?
Yes, you can combine your Royal London pensions.
Log in to the transfer hub or mobile app, choose the plan you want to transfer your other pensions into, then select Royal London as your transfer plan provider.
What does it cost to transfer?
We don't charge anything for transferring to Royal London and we don't charge you to transfer to another provider. Other providers may charge you for transferring out, so remember to check your other plans for any exit costs.
How do I track the progress of my transfer?
To check the progress of your transfer, contact your previous provider for the latest update.
It's worth checking they have all the information they need to avoid any delays.
Can I cancel my transfer application?
Yes, you can cancel your application.
If you change your mind after submitting your transfer request, call us as soon as possible on 0345 600 6042.
You can also cancel anytime during your 30-day cooling-off period, which starts from the date we receive your funds.
If you cancel before or during your 30-day cooling-off period, we'll arrange to pay the money back. Depending on investment performance, the amount returned may be lower than the amount transferred. Some providers or trustees may refuse to accept the returned money. If this happens, your money will remain invested with Royal London until you or your adviser asks us to transfer it to another provider.