Transfer a pension to Nutmeg 

You can start your Nutmeg pension by transferring pensions from elsewhere. Likewise, if you already have a Nutmeg pension you can transfer other pensions in quickly and easily.

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Pension transfers.

Transferring pensions held with other providers, or consolidating your old workplace pensions with Nutmeg, could be a good idea if you wish to keep them all in one easily managed pension pot. Pensions may have been set up by former employers of yours, and therefore you might have several pension accounts. There’s no limit to the number of pensions you can transfer to Nutmeg.

Why should you transfer a pension to Nutmeg?

We don’t hide behind complex pricing structures or financial jargon. We keep it simple.

Expertly designed

Our in-house investment team has built four investment styles to meet your retirement needs. Whether you're looking for a low cost 'set and forget' investment strategy, want to benefit from the ongoing expertise and management by our investment team, want to try Nutmeg’s Smart Alpha portfolios powered by J.P. Morgan Asset Management, or want your investments to have a socially responsible focus, then we have an investment style to suit you. If you would like to know what it’ll take to reach your desired retirement income then why not try our pension calculator.


  • It's easy to start your pension transfer; most can be completed electronically within two to three weeks. If not, we'll guide you through any extra steps that may be required.
  • You can transfer most personal pensions to a Nutmeg pension, such as a self-invested personal pension (SIPP) or an occupational scheme that you may have from previous employment. 
  • When the transfers arrive we’ll consolidate them into a single pension pot to make it easy for you to keep track of how much you have. The value of your pension is updated daily for you to check at any time.

How to transfer a pension to Nutmeg


Set up your Nutmeg pension

Get started with your Nutmeg pension by selecting one of our investment styles, a time frame, risk level and the starting amount for your retirement pot.


Check with your current provider

Nutmeg will not charge you anything for the transfer itself although there are underlying costs for each of our investment styles. Be aware that current pension providers may charge exit fees when you transfer your pension out and that there are financial risks when de-investing with your ceding pension provider.



Once you've submitted the correct information and selected the amount to transfer, we do the rest - usually within two to three weeks.

Most people ask us

It is important that your details are fully up-to-date with your previous pension provider.

If any of the details we hold for you differ to your current scheme provider, they’re likely to reject the transfer. We therefore strongly advise you to contact them first, to check these details, before you start the transfer. Common causes of delays to pension transfers include: changes of address and surnames, incorrect National Insurance numbers and incorrect pension plan numbers.

We accept most pension transfers and can conduct these electronically or manually. Unfortunately, if you've already started drawing income from a pension, we cannot accept a transfer of the pension. Clients transferring defined benefit (DB) pensions valued over £30,000 must obtain specialist financial advice before transferring. A suitable adviser can be found through the government’s Money Advice Service retirement adviser directory.

DB pensions valued at less than £30,000 can be transferred without financial advice. You must sign a declaration stating that you are aware of the product features you’ll be losing and remain comfortable transferring.

We still won’t be accepting DB pension transfers from local authority pensions, the Universities Superannuation Scheme and civil service pension schemes.

It usually takes two to three weeks if transferred electronically. Nutmeg operates electronically, so if the same is true of your other provider, the transfer should be swift. If they are not an electronic provider, they will have to transfer the pension manually, which can take up to six weeks or more. During this time, your investments are unlikely to be out of the market for more than a few days. Nutmeg promises to transfer your pension as quickly and smoothly as possible. We’ll always try to transfer your pension electronically as this is usually quicker than a manual transfer, and we usually only need one instruction from you.

We’ll also do our best to keep you updated on the status of your transfer. If you don’t hear from us for a while, don’t worry, you can be confident we’re actively tracking the transfer of your pension. If it’s still in the hands of your current pension provider, we’ll chase them every seven days.

Please note: you may see the pension money leave your previous provider a few days before it arrives in your Nutmeg pension, this is completely normal.

Nutmeg will not charge you anything to transfer your pension(s).

There are however associated costs depending on which investment style you choose. You can see a full breakdown of underlying costs for each of our investment styles here. Other charges from your previous pension provider may apply. We therefore advise you to check with them first, so you are aware of any costs you may incur. There are also some financial risks to be aware of when de-investing your funds with your current pension provider.

The ‘transfer value’ of a pension is the value of the pension when it is transferred out. This can be different from the value of the pension itself because there may be fees charged on the pension to transfer it out (Nutmeg will never charge fees on a pension transfer). There may also be a cost to sell the assets the pension owned previously. The transfer value will be how much of the pension is transferred into your Nutmeg pension.

The market can also affect transfer value. During the time between a transfer being agreed with your previous provider and them actioning the transfer, the value of the assets you hold in that pension may move. So, when they are sold and the pension transfers to Nutmeg, the transfer value might be less (or more) than when you initiated the transfer.

Some pension providers or employers might offer pension holders a ‘transfer value’ different to the immediate pension value as an incentive for the pension holder to ‘cash-out’, thereby saving the employer future pension payment commitments.