Transferring in
At a glance
If you’re paying into the Plan, you may be able to transfer the value of any other pensions you have into the Plan.
If you leave a pension scheme (for example because you move jobs), the pension you’ve built up still belongs to you. You normally have the option to leave it where it is, or you can move it to another pension scheme, such as the Plan, but you don’t have to decide straight away. Some people find it easier to plan their retirement when all of their savings are in a single pension scheme (though some people like the flexibility having more than one ‘pot’ can offer).
Everyone’s circumstances are different, and transferring your previous pension benefits is an important decision. That’s why it’s always a good idea to talk to a regulated financial adviser who will go through the pros and cons with you. Another reason to take advice is that a good adviser can help you make sure you avoid any pension scams. Find out more about taking advice.