How long does a pension transfer take?

In general, with our new electronic transfers existing pensions can be transferred to your Best SIPP in just 15 working days. This can vary from provider to provider, but you can rest assured that we will work closely with your current providers to ensure that your pension transfer is completed as quickly as possible.

Faster transfer times mean there is less time spent out of the market. However, it’s worth noting that some providers still require manual transfers that can take up to 12 weeks to complete.

We will accept the transfer in of some occupational schemes, but they should be checked carefully before transferring to make sure that you will not lose any valuable benefits.

Ready to transfer? It's quick and easy to transfer your investments to Bestinvest.

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Before you consider transferring a pension, it is important to ask yourself: Will I lose any valuable benefits or features from my existing pension plan? Will I incur any penalties on my existing pension if I transfer? Is it an occupational final salary pension scheme? (in which case it is very unlikely to be advisable to transfer) Have I considered the charges on my current plan? (a new arrangement may be more expensive – especially if you have a stakeholder pension).

SIPPs are not suitable for everyone. If you don’t want to invest across different asset classes or don’t think you will make use of the investment choices that SIPPs give you then a SIPP might not be right for you. Please contact us for guidance or advice if you are unsure whether a SIPP is right for you.