These days, we tend to move jobs quite often. Transferring your various pensions to one provider could save you money on fees and also allows you to see all your retirement savings in one place.
With Nutmeg you can bring pensions and other investments into one easy-to-use online account. Set up a new personal pension from scratch in minutes or transfer in your pensions from other providers. You simply fill in the details of the pensions you’d like to transfer and we’ll take care of the rest.
You can transfer SIPPs, personal pensions and most workplace pensions to Nutmeg, so long as you haven’t started to take income from them – known as ‘draw down’. In the future, you’ll also be able to transfer pensions to Nutmeg that you have started to draw down from.
We can’t accept transfer of defined benefit, or ‘final salary’, workplace pensions. Find out more on the different types of pension.
The majority of pension transfers will take no longer than three weeks to complete. Some pensions might take a little longer, around 2-3 months. Our pensions transfer list that we are in the process of creating will give you a good idea of how long you can expect your transfer to take.
When you start a Nutmeg pension, there are no set-up fees. You may want to check any exit fees with your current pension providers, or any benefits you may lose as a result of switching. Here’s a helpful list of things to check before you transfer your pension. To get started, click ‘Start your pension today’ at the top of the page and create a sample portfolio for your pension pot.
If you’ve got pensions from previous employers which are lost or long-forgotten, don’t worry – you’re not alone. The government provides a handy Pension Finder service for just these occasions.