You can normally move a defined contribution pension you have saved into to another pension provider at any time up to one year before the date when you’re expected to start begin taking money from it. In many cases, you can also transfer even after you’ve started to take money from the pension.

How do I transfer my pension to someone else?

You can nominate anyone to inherit your remaining pension fund as a drawdown account. This means beneficiaries can dip into the pension pot they inherit as and when they want.

Can my wife transfer her pension to me?

The short answer is no, you can’t transfer your pension into your wife’s name. You can, however, pass on your pension to your wife inheritance tax-free when you die, provided you name her as your beneficiary.

Can someone else contribute to my pension?

Anyone can set up a personal defined contribution pension, such as a stakeholder or self-invested personal pension (SIPP), and pay into it for someone else.

Do I have to give my wife half my pension?

Yes, you will be to your husband’s pension. However, because of how marital assets are split in a divorce, you may not receive all of your share of your husband’s pension.

Can a pension be transferred to someone else?

You can only transfer your pension to someone else in exceptional circumstances. A pension is personal and there is no legal structure to transfer your pension pot to someone else, except in the case of divorce or dissolving a civil partnership.

Can a Self Invested Pension be transferred to a SIPP?

A Self Invested Personal Pension is an attractive option for transferring a pension. It is possible to transfer a personal pension to a SIPP, a work pension to a SIPP or transfer a SIPP to a SIPP from another provider.

What happens when you transfer from final salary pension to personal pension?

Transfer of risk: if you’re thinking of transferring from a final salary scheme to a personal pension, the investment risk switches from your employer to you. The scheme charges might, too.

Which is the best way to transfer pension pots?

Sipps can be an attractive home for existing pension pots currently tied up in other schemes. They offer a wider range of investments, including personal property, so are suitable for more experienced investors. Sipps can be managed online, meaning that people with smaller pots can use them. Sipp websites look a bit like online banking portals.