You can transfer benefits from other registered pension schemes into your pension scheme.
The need for financial advice
As a general rule, the decision to transfer from one pension scheme to another involves some complex factors and you should take financial advice before proceeding.
Where you are looking to transfer benefits held in an occupational pension scheme into one of our SIPPs then we will not accept the transfer unless you have taken financial advice from a financial adviser who is authorised by the FCA, and the adviser has made a positive recommendation for you to make the transfer.
In specie transfers
Most transfers from other registered pension schemes will be as cash. However, as with contributions, it is also possible to transfer assets ‘in specie’ into your scheme. An example would be if you have a SIPP which owns a property and you decide to transfer to another SIPP provider, then rather than selling the property you would transfer it in specie to the new SIPP.