Which SIPP providers have the best transfer process?
The SIPP providers most consistently rated for a smooth transfer are the large, established online platforms — AJ Bell, Hargreaves Lansdown and Interactive Investor — alongside app-led providers such as PensionBee and Vanguard. What actually makes a transfer painless is less about the brand and more about three things: whether your existing pension can move in specie (as investments) or must be sold to cash first, how quickly your current provider releases the money, and whether anything valuable would be lost by moving.
In practice, the digital platforms win on process because they let you start the transfer online, verify your identity electronically, and then chase your old provider on your behalf through the industry's electronic transfer network (Origo). App-led providers like PensionBee go a step further by assigning a dedicated case handler to consolidate old workplace pensions for you.
SIPP transfer process compared
| Provider type | How you start | Transfer method | Best suited to |
|---|---|---|---|
| Large investment platforms (AJ Bell, Hargreaves Lansdown, Interactive Investor) | Online application, electronic ID check | In-specie (keep your funds) or cash, via Origo | People who actively choose investments and hold transferable funds/shares |
| App-led providers (PensionBee, Vanguard) | App/online, guided | Usually cash transfer into a ready-made plan | People consolidating several old workplace pots who want it done for them |
| Traditional insurers (Aviva, Standard Life, Royal London) | Online or paper, adviser often involved | Cash, sometimes slower | People staying within an existing workplace/insurer relationship |
Figures and features change, so always confirm the current process and any charges directly with the provider before you start.
How a SIPP transfer works, step by step
- Check what you hold. Ask your current provider for a transfer value, the fund/asset list, any exit penalties, and whether there are safeguarded benefits (guaranteed annuity rates, a guaranteed growth rate, or a defined benefit link).
- Choose in-specie or cash. An in-specie transfer keeps you invested throughout; a cash transfer sells your holdings, so you are briefly out of the market. In-specie avoids time out of the market but can be slower.
- Open the new SIPP and request the transfer. The new provider initiates it electronically and chases your old provider — you should not have to contact the old provider yourself.
- Track it. Simple cash transfers between modern platforms often complete in around 2–6 weeks; with-profits, older or defined benefit arrangements can take considerably longer.
When you should get advice first
Some transfers should never be rushed. If your pension is a defined benefit (final salary) scheme worth £30,000 or more, you are legally required to take regulated financial advice before transferring out — and for most people, staying put is the right answer because you would be giving up a guaranteed, inflation-linked income. The same caution applies to any pot with a guaranteed annuity rate or other safeguarded benefit. A quick check with a regulated adviser can stop you losing something valuable. See our full pension transfer guides or compare the best SIPP providers.