Three kinds of transfer service
There is no single "transfer service" — there are three routes. App-led consolidators like PensionBee do the chasing for you. DIY platforms like AJ Bell and Hargreaves Lansdown let you initiate transfers yourself online. And regulated advisers handle complex cases, especially defined benefit transfers which legally require advice above £30,000.
| Service | Type | Cost | Best for |
|---|---|---|---|
| PensionBee | App consolidator | Free transfer; 0.50%–0.95% ongoing | Finding & combining lost pots |
| Hargreaves Lansdown | DIY platform | Free transfer in | Self-directed investors |
| AJ Bell | DIY platform | Free transfer in | Low-cost DIY |
| Regulated IFA | Advised transfer | Fixed or % fee | DB pensions, complex cases |
| Origo Transfer Service | Industry rail | N/A (back-end) | Fast electronic transfers |
How transfers actually move
Most modern transfers run electronically over the Origo Transfer Service, which is why a SIPP-to-SIPP move can complete in days rather than weeks. Older plans still relying on paper "discharge forms" take longer. A good transfer service handles the paperwork, keeps you updated, and tells you upfront if a plan has guarantees worth keeping.
When you must use an adviser
If you hold a defined benefit (final salary) pension worth more than £30,000, the law requires you to take advice from an FCA-authorised pension transfer specialist before transferring. The same caution applies to any plan with a guaranteed annuity rate. A reputable transfer service will flag these and refuse to proceed without advice.
Verdict
For most people consolidating old workplace pensions, PensionBee is the most convenient transfer service. Confident DIY investors should transfer directly into an AJ Bell or Hargreaves Lansdown SIPP for free. For DB pensions or anything complex, use a regulated adviser — see our best pension UK guide. Compare destinations in our best pension providers guide and SIPPs in our best SIPP providers guide.