Pension Schemes - Transfer

leicsmarkyr

Hi

I am with the company pension scheme which is deemed a personal pension. I pay via salary scarifice and comany pay in too. The old scheme the company had is transfered into the same new personal pension but in a different pot (hope that makes sense). I have had the new scheme since Jan 2008.

I am due to start a new job which has a company pension scheme which I will join.


Is it possible to transfer the funds from the current pension to my new pension?

dunstonh

I am with the company pension scheme which is deemed a personal pension.

That would be a group personal pension then. (or group stakeholder but the same thing).

Is it possible to transfer the funds from the current pension to my new pension?

yes. Although there may be the odd exclusion. For example, if you have protected rights and the new scheme is a defined benefit scheme then they may not accept protected rights.

leicsmarkyr

Will I need to contact the new pension provider to see if they allow it or will I need to speak to both

dunstonh

You will need pension transfer/discharge forms from the old one and ask if it had protected rights or not (or look at your statement as they are usually split). You will need to ask the new provider if they accept transfers (most do but it depends on scheme).