Bring Your Pensions Together

Learn more about our Pension

How do I transfer a pension to Wealthify?

Transferring your old pensions is easier than you might think – all we need to know is who your old providers are, reference numbers , an estimated value, and your permission to get in touch with your old providers regarding your pensions. You can usually find this information on your latest pension statement. We’ll do the rest and consolidate them into your Wealthify Pension.

If you’re an existing customer, simply head to your Dashboard and use the ‘transfer in’ button on your home screen.

Is there a charge to transfer my pension?

No, it is free to transfer your pension(s) into Wealthify. Your old provider may charge exit fees or transfer fees, so you may want to check this with them before you go ahead.

What types of pensions can I transfer?

You can transfer in most types of pensions, although there are exceptions. For example, the government doesn’t allow the transfer of a public service pension. Similarly, if your pension has defined benefits – such as guaranteed annuity rates or a final salary promise – then we won’t be able to accept this, so please check before requesting a transfer.  We also cannot accept a transfer if you’re already taking an income from it.

Do I need to contact my old pension provider before I transfer?

In the majority of cases, no. We can begin a pension transfer on your behalf without you needing to do anything. However, things happen, and if your old provider objects or needs further confirmation, then we’ll get in touch to let you know what’s needed.

We don’t charge you anything to transfer, but your old provider may charge exit fees or transfer fees, so you may want to check this with them before you go ahead.

Can I transfer a pension that I'm already accessing?

No, unfortunately, we’re not able to accept pensions that are already in payment or if you’ve already taken income from.

How does the pension cashback offer work?

With this offer, you could earn up to £200 in cashback by transferring an old workplace or personal pension to us – even if you’re already an existing customer of Wealthify. 

To be eligible for this offer, you will need to register your interest by clicking the ‘Activate your offer’ button on the relevant landing page. You will also be given the opportunity to activate this offer if you complete our Pension Calculator. 

Once you’ve registered for the offer using either of the methods mentioned above, you will have six months to complete your transfer. 

Subject to the offer’s term and conditions, the amount of cashback you could earn are as follows: 

• £50 for transfers between £50 and £9,999  
• £100 for transfers between £10,000 and £19,999  
• £200 for transfers of £20,000 or over 

Please note that you can transfer as many pensions as you like, although the cashback amount will be limited to a maximum of £200 per person. You are able to transfer multiple pensions to boost the amount of cashback you could receive (up to a maximum of £200), but you will not be able to top-up your pension with cash to reach the requirements to get the cashback. 

For example, if you transferred two pensions worth £10,000 each, then you would be eligible for the maximum amount of £200 cashback (as their combined value is £20,000). 

If you complete your transfer before 11th May 2022 (or you have a funded pension before that date), you will also be automatically entered into our £20,000 pension prize draw (unless you are a resident of Northern Ireland and are therefore excluded from the prize draw).  

You can read the full T&Cs for the pension prize draw here and cashback offer here. 

How will I get paid my cashback for the pension transfer offer?

To be eligible for the cashback, the money you transferred must remain invested in your Wealthify pension for at least six months. 

If you are transferring multiple pensions to us, all transfer requests will also need to have been made within six months of registering your interest in the offer, and the cashback will only be paid once all transfers have been completed successfully and in accordance with the offer’s terms and conditions. 

After these six months have passed, the cashback will be paid to you within a period of 30-days. The cashback will either be paid directly into your pension with us, or the bank account that’s associated with your Wealthify account. 

However, if you have not registered for the offer before choosing to transfer a pension to Wealthify, then the cashback cannot be paid. 

Read the full T&Cs for the offer here. 

What happens when the pension cashback offer ends?

If you haven’t made the request to transfer your pension(s) to us within six months of registering your interest in this offer, we won’t be able to pay you any cashback.  

The cashback will also only be paid once your transfers have been successfully completed. 

Once this offer ends (with this date to be decided by Wealthify without any prior notice needing to be provided), you will still be able to transfer your pension(s) to us if you wish. However, unless you have registered your interest in another cashback offer for pension transfers to Wealthify, you will not be eligible for any cashback upon completing your transfer. 

However, we frequently run cashback offers just like this one, so keep an eye on our website, social media profiles and your email inbox) to be the first to find out about these. 

Read the full T&Cs for the offer here.