Bring your pensions together with us
If you’ve got several pensions, it could make sense to bring everything together in one place you can trust. Even if the amounts are small, it all adds up.
Easier to manage
With your pensions combined, you can manage everything in one place
See the total value of your pensions at any time to help plan for the future
Look after your money
With several pensions it’s easy to lose track or forget about your hard-earned savings
If you already have a pension with us, you may be able to transfer straight into that. If you don’t, you’ll be able to open a new one and move your pension savings into it.
The value of your pension can go down as well as up and you may get back less than has been paid in. There's no guarantee you'll be any better off by transferring.
Is transferring right for you?
Deciding whether to move your pension can be a complex decision and is not right for everyone. So you’ll need to ask yourself some important questions.
Does your pension have any special features?
You might find that you have some good extra benefits or guarantees with your existing pension. And if you transfer you’ll lose them. So please check your paperwork, and if you’re not sure talk to your pension provider. Things to look out for include more than 25% tax-free cash, loyalty bonuses, enhanced life insurance or death benefits, early access to your money or pension, and a pension with a guaranteed income.
How do fees and charges compare?
Before moving your pension, compare your current fees and charges with ours. We work hard to keep ours as low as possible, but you should make sure it all adds up before making the move. You should also find out if there are any exit charges or any potential inheritance tax implications for moving your pension.
We don’t charge you anything for opening and transferring to the Aviva Pension with the online investment service.
After you transfer to us, we make ongoing charges based on the total amount you have in your pension.
If you’re transferring to an older existing pension with us there may be a charge for transferring in, so please check when you get in touch.
It’s a good idea to compare the ongoing charges with what you’re currently paying before making any decision.
Reasons to transfer your pension to us
We can’t guarantee you’ll be better off by transferring a pension to us – as with any pension, the value can go down as well as up – but there are lots of reasons it could be a good move.
- No fee
Whether you want to move one or lots of pensions to a new Aviva Pension, we won’t charge you a thing for making the arrangements and setting it all up. There may be charges if you’re transferring into an older pension with us
- Easier to manage
You’ll be able to keep track of your retirement in one place, whether that’s keeping your details up-to-date or checking on the performance of your investments
- Better understanding
Bringing your pensions together in one place gives you a clearer picture of what you’ve got. That can make it easier to keep track of your savings progress, as well as planning for your future
- Look after your money
Bringing old, smaller, or multiple pensions together means you’re not running the risk of losing touch with your hard-earned savings. And every little bit can add up to help give you the lifestyle you want in retirement
- Grow your pension savings
When you transfer to us, you can choose how your money is invested. You’ll find a range of options depending on how you’re most comfortable saving for your future. It’s your money, working the way you want it to
How it works
Whether you want to transfer into an existing pension you have with us, or you want to open a new Aviva Pension and transfer into that, we’re here to help.
Get in touch
You can either call us to talk about transferring to an existing pension with us, or apply to open and transfer to a new Aviva Pension online.
Leave it to us
Once you’ve provided the details of the pension you’d like to move to us, we’ll get in touch with your provider to make all arrangements for the transfer.
Your pension is credited with the value of your old pension. It usually takes around 3 to 6 weeks from applying to seeing the money move across.
Before you apply to transfer
There are some pensions we won't accept for transfer and there are a few things you’ll need to consider before combining your pensions with us.
You won’t be able to move a:
- Defined contribution pension with a guaranteed annuity rate if the pension value is over £30,000
- Defined contribution pension with any other safeguarded benefits or guarantees if the pension value is over £30,000
- Defined benefit pension if the transfer value is over £30,000
- Pension you’ve already started taking an income from
You’ll need to be aware that:
- There may be a charge from your existing pension provider for leaving them
- During a transfer, your money will not be invested anywhere and you may miss out on any rise in the value of investments during that time
- In some circumstances, before proceeding with your application, we may need you to get financial advice, for which a fee will be charged
Looking for something else?
If you’re not sure that transferring your pension is right for you, or if you are looking for something else, we might be able to help.
Save smartly with our individual, self-invested pension. You choose how your money's invested, manage everything online and get valuable benefits from the taxman. It all adds up.
Whether you’re saving for the future or considering your options at retirement, our financial advice support team can help you decide what's right for you.
Take a look at our library of helpful articles and guides.
29 Nov 2018
What is a pension?
Find out about the different types of pension and how they can help you enjoy a happy and secure retirement.
29 Nov 2018
What happens to your pension when you die?
If you’re thinking about how you can provide for your loved ones, find out if and how your pension can be passed on.
29 Nov 2018
ISAs vs pensions
Explore the features and benefits of ISAs and pensions to help you work out what’s going to work hardest for your retirement savings.
29 Nov 2018
How the State Pension works
Understand when you can claim the State Pension and how much it’s likely to be to start planning for a secure and happy retirement.
16 Apr 2018
Your Friends Life pension questions answered
Friends Life is now part of the Aviva group. Find out how this affects your Friends Life pension.
17 Jan 2018
How much should you pay into your pension?
Get some help working out how much you need to pay into your pension to help you achieve the retirement lifestyle you want.