UK Pensions
Wood UK pensions home page
As the world of work changes, many of us are ending up with multiple pension pots from different employers. You may be wondering if it’s better to keep them separate or combine them into one pension pot. There’s not really a simple answer – it depends on your individual situation and the pensions you have.
Most pension schemes will allow you to transfer your pot to another pension scheme – whether that’s your new employer’s scheme or a personal pension.
The first step is to check with your provider if there’s any reason you can’t switch. Then contact the provider you’re switching to, to check if you should initiate the transfer through them or your old provider.
At Wood we accept transfers in from other providers.
Advice on transferring your pension
There are pros and cons to transferring and it’s important you have all the information you need to make the right decision. Unless you feel very confident, it’s a good idea to get financial advice before taking the plunge.
If you would like to transfer your pension please log into the Pensions Portal, complete and return the Transfer In Enquiry form located in Plan Information > Plan Forms