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Can you transfer a pension into another, if that has already been placed in drawdown?

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  • howard3844
    howard3844 Posts: 15 Forumite
    Fourth Anniversary 10 Posts
    transfer Aviva to Aegon and go into drawdown .. alternatively transfer both to interactive investor (set fee £240 per annum) but you may find some funds cannot be transferred but could be converted to cash or another similar acceptable fund. 
  • Sea_Shell
    Sea_Shell Posts: 10,028 Forumite
    Tenth Anniversary 1,000 Posts Photogenic Name Dropper
    Just going back to this question...sort of...

    Can you still contribute your £2880 net into an Aviva Flexi drawdown product once it is in drawdown?  e.g. fully crystallised and 25% withdrawn up front and the 75% placed into drawdown.

    How would it (the new funds) be treated, would it go straight into an uncrystallised pot, within the pension?

    We're going make a one-off payment into the pension as it stands, but wonder how this will work going forwards.  

    Thanks
    How's it going, AKA, Nutwatch? - 12 month spends to date = 2.60% of current retirement "pot" (as at end May 2025)
  • You may need to check with Aviva as they have various pension products and I know that the one I have with them would not allow you to add new money in once you had fully crystallised.

    The exact method of how you see it will vary between providers, but yes, if you are allowed to add money then it will go into the uncrystallised pot until you decide to crystallise it.

    If Aviva won't allow new money then you can of course open up a SIPP elsewhere - HL are very good if you just intend to fund new money and then withdraw it soon after (though you need to keep (I think) £100 to keep it open.
  • Also with Aviva you can get a free 1 hour phone call to speak with one of their pension experts, I did it the other week and found it quite helpful, also if you use their app I have found much more information on there than I did on their website especially involving funds and how to transfer them etc.
  • cfw1994
    cfw1994 Posts: 2,129 Forumite
    Part of the Furniture 1,000 Posts Hung up my suit! Name Dropper
    I would echo some of the suggestions to speak with Aviva.    All schemes will have their oddities, and it would be annoying to find you run into one of them!

    Be VERY specific with your questions, perhaps get the answers in writing so you cannot discover a weird thing in the future.

    That said - if you are moving an entirely uncrystallised pension to Aviva, I wouldn't expect any problem.
    Equally, I would also expect you to be able to continue to add the £2,880 in after having set up withdrawals - but ask the question!
    Plan for tomorrow, enjoy today!
  • Albermarle
    Albermarle Posts: 27,909 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    Be VERY specific with your questions, perhaps get the answers in writing so you cannot discover a weird thing in the future.

    This is good advice . Three years ago I had some telephone discussions with Standard Life, about the discount I still enjoyed on an ex employer pension from some time ago. Luckily I asked then to confirm it by e mail in unambiguous terms.

    Recently they made discounts visible on their app and I saw mine was less than expected. After an exchange of mails and forwarding the older mails , they increased the discount and gave me £200 compensation .

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