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Transfer a pension

Transferring pensions into the Best SIPP

Transferring pensions into the Best SIPP can give you more control over your retirement investments. If you don’t already have a Best SIPP, the minimum combined value of pensions you are transferring (together with any new contributions) must be £10,000. Simply complete the form below to download the necessary paperwork and start the pension transfer.

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Is this a full or partial transfer? *

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Frequently asked questions

Which pensions can I transfer to Bestinvest?

You can transfer a number of types of pension to a Best SIPP. These include stakeholder pensions, personal pension plans and existing SIPPs. Read more

Can I transfer a defined benefit or final salary pension?

Because of their valuable benefits, it is generally not advisable to transfer benefits built up in a final salary pension scheme or defined benefit pension. We will not accept these pension transfers on an execution-only basis.

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.

What do I need to consider before starting a pension transfer?

Before you consider transferring a pension, it is important to ask yourself:

  • Will I lose any valuable benefits from my existing pension plan?
  • Will I incur any penalties on my existing pension if I transfer it?
  • Have I considered the charges on my current plan?

For further information, please see what to consider before transferring a pension.

Will it cost me anything to transfer my pensions to Bestinvest?

No, it is free to transfer pensions to Bestinvest. One of the many benefits of consolidating your pensions in the Best SIPP is that we will also pay up to £500 for any exit fees applied by your existing providers (subject to terms and conditions)*.

Do you have any questions about transferring a pension?

For more information about pension transfers please get in touch with our experts:

Previous Pension transfer considerations

*Exit fees may apply if you leave Bestinvest.

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. Self-directed investors should regularly review their SIPP portfolio, or seek professional advice, to ensure that the underlying investments remain in line with their pension objectives.