Transferring your pension savings to Smart Pension

This page will tell you everything you need to know about transferring your pension savings

How our charges compare

We believe that you could save money by bringing your old pensions into your Smart Pension account. This is based on our new charging structure of a 0.30% annual management charge and a £1.75 monthly flat fee from 1 May 2023.

Use the table below to see how much you could save in charges at Smart Pension compared with pension providers with higher annual management charges and no monthly flat fee.

For example, a saver using Smart Pension rather than a provider charging 0.75% AMC could save an additional £18,851** over the course of 40 years.

How much you could save in charges*

Savings period

0.40% AMC

0.50% AMC

0.60% AMC

0.75% AMC

20 years

£805 saved**

£1,966 saved**

£3,168 saved**

£4,891 saved**

40 years

£3,866 saved**

£8,325 saved**

£12,639 saved**

£18,851 saved**

*Please note the figures above are estimated. This comparison table is for illustrative purposes only. You should also check the charging structure of your existing pension provider and read our transfer guide before transferring to us.

**Our assumptions

Assumptions for a 20 year savings period
We’ve used an average salary of £36,000, age of the member is 45, retirement age is 65, a pension savings period of 20 years, transfers in to be £9k, contributions at 8% per annum on pensionable earnings, investment growth at 5% per annum, wage inflation at 2.5% per annum.

Assumptions for a 40 year savings period
We’ve used an average salary of £26,000, age of the member is 25, retirement age is 65, a pension savings period of 40 years, transfers in to be £2.5k, contributions at 8% per annum on pensionable earnings, investment growth at 5% per annum, wage inflation at 2.5% per annum.

What are the benefits of moving my pension savings into one place?

Watch our pension transfer video

Watch our video to find out more information about transferring your pension savings and what you should consider.

What you need to consider

There are a few things you need to think about before you decide to transfer savings over to us, they are:

  • You should read our transfer guide to make sure you’re happy to transfer your pension savings to us.
  • We also recommend that you speak to a financial adviser to make sure transferring is right for you. You can find an independent financial adviser by visiting MoneyHelper.
  • We won’t charge you for transferring your pension to us, but other providers may have exit fees for leaving their schemes. This means the amount of money you transfer into your Smart Pension account could be less than the amount you currently have invested in your former pension scheme.
  • You may have certain taxation protection in relation to benefits that accrued prior to April 2006, which you may lose if you transfer out individually. If you think this may apply to you, please email us at [email protected].
  • Beware of scammers who are targeting pension savings. You can find more information on staying safe from pension scams on the Financial Conduct Authority’s website and by reading our How to be scam smart page.

Use our online transfer service to move your pension


It's easy, just sign in to your Smart Pension account and select Other pensions and then click Get started.

Please read our transfer guide before deciding to move your pension savings over to us.

Frequently asked questions

Can I complete my transfer without using your online service?

If you'd prefer, you can complete your transfer by downloading the application form and returning it to us. Please read our transfer guide and this page before deciding to move your pension savings over to us.

What is the minimum value that I can transfer on an individual basis?

The minimum transfer value is £100 per pot.

How long will this process take?

The time it takes to transfer your pension savings will depend on your previous provider and their existing transfer processes. In some cases, the transfer process can take several weeks. We will keep you updated throughout the process.