You can transfer SIPPs, stakeholder pensions and most defined contribution pensions to Netwealth.
Under most circumstances we are not able to accept transfers from a defined benefit (final salary) pension schemes but if you are looking to transfer one of these schemes please book a call to discuss further and our advisers will be able to confirm.
Once you have opened your Netwealth Personal Pension, you can easily transfer one or more existing pensions through our simple online transfer form. In the rare instances where there is any additional paperwork to complete, we will let you know.
Pension transfers vary depending on the provider and the type of pension you are transferring e.g. SIPP or workplace pension. It is best to allow 2-6 weeks, but we can give you a more accurate estimate once we receive your transfer request.
There are no charges by Netwealth for transferring in a pension. However, you should check with your existing provider as some providers do levy exit charges.
Where you have any uncrystallised pension funds, these can be partially transferred. For crystallised pension funds, normally these have to be transferred in full, although it is worth checking with your existing provider as there may be an ability to partially transfer these.
There are a number of benefits to transferring existing pensions into your Netwealth Personal Pension, the main one being consolidation. Individuals often accumulate more than one pension and transferring these into a Netwealth Personal Pension offers a transparent and cost-efficient way to have everything managed in one place with an asset allocation consistent with your chosen level of risk.