Transfer Your Legal & General Pension | Guide & Process 2026
Complete guide to transferring your Legal & General pension. Fees, timelines, process steps and what to check before you transfer. Updated for 2026.
10 min readUpdated April 2026
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Legal & General Pension Transfer: Overview
Legal & General (L&G) is one of the UK's largest investment managers with over £1.2 trillion in assets under management. They are a major workplace pension provider and offer personal pensions with a focus on low-cost index tracking funds. Their pension products are known for simplicity and competitive pricing.
Fees and Charges
Legal & General pension charges: 0.25% annual charge on their default fund. Always request a transfer value illustration before proceeding, as older policies may have different fee structures or exit charges that could affect your transfer value.
Fund Options
Range of index tracker funds and multi-asset portfolios. When transferring, you will need to choose new funds with your receiving provider. Consider whether your current fund selection aligns with your retirement goals and risk tolerance before and after the transfer.
Transfer Process and Timeline
The typical transfer timeline for Legal & General is 4-6 weeks for most transfers. To initiate a transfer, contact your new pension provider with your Legal & General policy details. They will submit a formal transfer request. During the transfer, your investments may be temporarily held in cash, so timing can affect your returns.
Important: Before transferring any pension, check for valuable guarantees such as guaranteed annuity rates, guaranteed minimum pensions, or protected tax-free cash. These benefits cannot be replaced once surrendered. If your Legal & General pension has a transfer value above £30,000 and includes defined benefits, you are legally required to take independent financial advice.
Pros of Legal & General
Very low fees especially on index tracker funds
Strong reputation as a major UK insurer
Excellent workplace pension platform
Good range of index and multi-asset funds
Straightforward and simple to manage
Cons of Legal & General
Limited investment choice compared to SIPPs
Platform lacks advanced trading features
Customer service can be impersonal
Not ideal for those wanting individual shares or ETFs
Who Is Legal & General Best For?
Legal & General pension transfers are best for cost-conscious investors who favour index tracking strategies. Excellent for those who want low fees and a simple, hands-off approach to pension saving.
Transfer checklist: Before you transfer, gather your policy number, check for exit charges, confirm any guarantees, compare fees with your new provider, and ensure the receiving scheme can accept the transfer type. Allow 4-6 weeks for most transfers for the process to complete.
Frequently Asked Questions
Contact your new pension provider with your L&G policy details. They will manage the transfer process. You can also call L&G directly to request a transfer pack. Most L&G transfers complete within 4 to 6 weeks.
L&G's flagship default fund charges 0.25% annually, which is among the lowest in the market. Other funds in their range may charge between 0.10% and 0.75% depending on the type. There are no platform fees on top of the fund charges for most plans.
Yes, once you leave the employer you can transfer your L&G workplace pension to any SIPP provider. Some schemes permit transfers while still employed. Check with your scheme administrator for specific rules and any restrictions.
Modern L&G pension plans do not charge exit fees. Older policies may have different terms. If your plan was started before 2010, check your policy documents or call L&G to confirm whether any charges apply to a transfer.
L&G is one of the UK's largest and most financially secure companies, listed on the FTSE 100. Pension funds are held separately from company assets. Unit-linked funds are also covered by the FSCS, providing additional protection.
L&G offers a comprehensive range of index tracker funds covering UK equities, global equities, emerging markets, bonds, and property. Their multi-index funds provide ready-made diversified portfolios at different risk levels.
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