Pension consolidation can give you a clearer view of the money you have for retirement. You’ll need to understand the important information on this page before you consider it.
Consolidate your old pensions with our pension transfer service
If you don’t know where to start, our free Find and Combine service can do the heavy lifting
There’s no obligation, any decisions are up to you
As you move from job to job and change addresses it can be tricky to manage pensions. With every new one it’s more admin to deal with. By bringing them together you can have a clearer view of how much money you have for retirement, where it’s invested and what you’re being charged. With Aviva, combining them is free.
Just bear in mind, the value of a pension can go down as well as up – and you could get back less than the amount that's been put in.
It's always important to consider charges and investment choices before consolidating any pensions.
Why should I consolidate my pensions?
Get a clearer view
Gathering up your pensions can give you a better idea of your total pension pot and what it could be worth when it’s time to retire.
Lower charges
You could benefit from lower management charges, which may help your pension pot grow faster.
Less life admin
The more pensions you have, the harder it can be to keep track of them, and how they’re performing for you. With just one pension, that’s much easier.
How does pension consolidation work at Aviva?
Simply select the option below that best describes you.
Pension transfer
For those who already have their policy details and would like to transfer into a personal or workplace pension.
Confused about consolidating your pensions? We recommend that you get professional advice. For some pensions with valuable benefits, you’ll have to take advice before you transfer.
If you have pension savings of £150,000 or more, the Aviva Financial Advice Team can talk through your options. You can also find a financial adviser at Unbiased – there will be a charge for advice.
If you have a defined benefit pension (sometimes called final salary pension), you can find out more about advice on our defined benefit advice page.
Are there any drawbacks to consolidating my pension?
Transferring your pensions is completely up to you, and there’s no guarantee you'll be better off. If you decide to transfer but change your mind later and cancel, your previous provider doesn’t have to take your money back so you might still lose any safeguarded or valuable benefits you had.
Remember, the value of your investments can go down as well as up, and you could get back less than you’ve invested.
Which pensions can be combined by Aviva?
You can transfer one or several defined contribution pensions. These are types of retirement plans in which the employer, employee or both make contributions on a regular basis.
You may also be able to transfer personal pensions, like a SIPP (self-invested personal pension). Don't worry, we'll tell you if you can't.
Please contact your employer and/or existing provider if you are still receiving regular contributions into the plan you wish to transfer. A transfer could mean your employer stops paying into the pension.
Which pensions can't be combined by Aviva?
Unfortunately, we can't transfer any of the following types of pensions:
Defined benefit pensions (also known as final salary pensions)
Pensions which are set up in the Isle of Man, Channel Islands or any non-UK or overseas pensions
Pensions you’ve already started taking an income from
Pensions you’ve already taken money from
Pensions that have safeguarded benefits - these can't be transferred online. If your pension contains any of these, give us a call. You can find the correct number on your latest pension statement. Financial advice is legally required if you want to transfer a pension that has defined benefits worth over £30,000.
How long does it take to combine pensions?
Not all providers are quick to respond to a request for information about pensions. So, with Find and Combine, it may take from four to twelve weeks from you applying until we can give you information on your pensions.
If you decide to combine your pensions with us, it can take another three to six weeks until your money's with Aviva.
