Quick answer: To transfer a UK pension: open the new scheme first, request a transfer-in pack, complete the authority form, and the new provider contacts your old one directly. DC pensions take 2–4 weeks; defined benefit takes 3–6 months and requires regulated advice over £30,000. Most modern providers charge nothing to receive a transfer.
The 8 steps
- Decide if it makes sense — check for guarantees worth keeping (GARs, with-profits, protected pension age)
- Find your pension details — statements, reference numbers; use the free Pension Tracing Service if you've lost track
- Request a transfer value — current value for DC, or a CETV for DB (free once a year, guaranteed for 3 months)
- Open the receiving scheme — don't close the old one first
- Get advice if required — mandatory for DB over £30k
- Complete the transfer-in paperwork — the new provider handles contacting the old one
- Wait — 2–4 weeks DC, 3–6 months DB
- Confirm completion — check the balance and set your investments
Typical timelines
| Transfer type | Time |
|---|---|
| DC to SIPP (Vanguard, AJ Bell, HL) | 2–4 weeks |
| DC to workplace pension | 3–6 weeks |
| DB to SIPP (incl. advice) | 3–6 months |
| QROPS overseas | 3–6 months |
Fees
Modern providers: £0 to receive a transfer. Older personal pensions (pre-2001) may charge 1–10% exit penalties. DB transfer advice (mandatory over £30k): £1,500–£10,000.
Common mistakes
- Transferring an active workplace pension while still employed (you lose employer contributions)
- Not checking for guaranteed annuity rates first
- Cashing in a small pot to "use" the tax-free cash (triggers the MPAA)
- Responding to a cold call — pension cold-calling has been illegal since 2019
Read next: Should I transfer my pension? and What is a CETV?
Frequently asked questions
Open the receiving scheme first, request a transfer-in pack, fill in their authority forms, and the new provider contacts the old one directly. You don't usually need to do anything else. Total time: 2-4 weeks for DC, 3-6 months for DB.
Most modern providers (Vanguard, AJ Bell, Hargreaves Lansdown, PensionBee) charge nothing to receive transfers in. Some older schemes charge 1-10% exit penalties, mostly on pre-2001 personal pensions. Check before transferring.
Yes for DC-to-DC transfers — you don't need an adviser. For DB transfers over £30,000, regulated advice is legally required. For complex situations, advice is recommended regardless.
DC to SIPP: 2-4 weeks. DC to workplace pension: 3-6 weeks. DB to SIPP: 3-6 months (advice + transfer paperwork takes longer). QROPS overseas: 3-6 months.
No. Pension transfers are tax-neutral — no tax is paid on the transfer itself. Your pot moves intact, retaining all tax-relieved contributions and growth.