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Transferring pension pots

Throughout your working life, you'll probably have more than one job – which means you could end up with multiple pensions. These can be time-consuming to manage, as well as costing you money in duplicate fees and charges.

To make life easier, you can consider bringing all your pension pots together into NEST.

Simplifying your pension savings with NEST

Combining your pension pots will make everything more straightforward. You’ll be able to keep track of how much you’ve saved in one place, without guesswork or hassle.

We don’t charge for transferring money into NEST and the value of your transfer will only be subject to the same 0.3% annual management charge (AMC) that we apply to all NEST accounts.

How do I transfer money into NEST?

Transfer your money into NEST

In this video, we’ll show you how you can transfer your money into NEST and the types of transfer we can accept.

To combine your pots with NEST, simply follow the simple online process below:

  1. Log into your secure NEST account.
  2. Select Transfer money into NEST
  3. On the Transferring money into your NEST retirement pot page select Request transfer
  4. Check your details are correct
  5. Input a few details about your current provider and the amount you wish to transfer into NEST
  6. Check all the information and confirm you’re happy to proceed by checking the declaration box. It can generally take up to four weeks for your transfer to be completed.
  7. You can log in at any time to track progress by selecting Check status

How do I transfer money into NEST

Alternatively you can request a form which we’ll post to you. You’ll need to send it to your other pension provider for them to complete. Please be aware that this will take longer than the usual four weeks for the online process which generally takes four weeks. When you get the form back from your other pension provider, check you’re happy with the information, sign it and post it back to NEST using the address provided on the form.

NEST will then arrange to transfer your money. We’ll also be sure to provide you with updates during the transfer process through your secure NEST online account.

Is transferring pensions the right choice for me?

It’s completely up to you whether you’d like to combine pension pots with NEST. Here are some additional factors you should consider before making a decision:

  • Look at any costs and charges you might come across with other providers
  • Think about taking independent financial advice or contact an independent organisation such as the Pensions Advisory Service
  • NEST can only accept certain types of transfer payment. It must be from a UK based pension scheme and be either a defined contribution scheme, a pension or credit transfer, or an early leaver cash transfer
  • We can’t accept disqualifying pension credit or transfers from a defined benefit scheme.
  • Read our downloadable PDF on things to consider when moving your money into NEST

Alternatively, if you decide to transfer your savings out of NEST, we’ll make this process as simple as possible for you and we won’t charge you. You can transfer your money out of NEST at any time to another registered pension scheme or a qualifying recognised overseas pension scheme also known as QROPS.

If you choose to transfer your money to an overseas pension scheme, there might be an overseas transfer charge applicable. An additional tax charge may be added if the retirement pot value exceeds the lifetime allowance.

You’ll need to have stopped making contributions into your NEST retirement pot before you can transfer your money to other pension schemes.

Other providers might charge you for pension transfers, so it’s a good idea to check with them first.

Transfer your money out of NEST

In this video we’ll show you how to transfer your money out of NEST, where you can transfer your money to and what to look out for before you transfer out of NEST.

Read more on transferring money out of NEST

Head to the help centre for more information on transferring money out of NEST

Log in to your account

Find out how much your pension pot is worth, move money in and out of NEST and update your details in your online account.