Transferring

Transferring your pension to another provider 

If you choose to move your pension, follow these steps:  

Request a transfer value from Capita. 
Review your options with your new pension provider or a financial adviser.    
Submit the necessary forms to your new pension provider to process your transfer.

How to request a transfer

You can log into the Online Portal or contact Capita to start the transfer process.

Transfer process

To help you understand how long the transfer process can take and the steps involved, we’ve put together this timeline for you to use as a guide.

1. You get your estimated transfer value

Instantaneous.

2. You request a pack, and we send it

We’ll issue a transfer pack 5-15 working days from receiving your request.

If you’re still interested in transferring your benefits, you’ll need to request a transfer pack; please contact Capita.

You can have one free transfer value calculated in any 12-month period. Only one transfer value can be calculated within any three-month period.

A fee is charged for any additional transfer value calculations. 

The legal deadline for providing a value is within three months of your request.

3. You get financial advice and return the completed paperwork

Before the guaranteed date shown in the pack.

The transfer pack includes your transfer value, which is guaranteed for three months from the date it’s calculated, and the forms you need to complete.

If you choose to go ahead with the transfer, you will need to return:

The Member Discharge Form (you need to complete this)
The Receiving Scheme Form (the scheme you are transferring to needs to complete this)

4. We review your paperwork and complete transfer checks

This part of the process can take 8-12 weeks from receiving your completed paperwork

To help combat fraud and pension scams, Capita will need to confirm that the scheme you wish to transfer to is appropriate.

Depending on where you are transferring to, you may need to complete a questionnaire about the scheme and make a MoneyHelper appointment.

If you need a MoneyHelper appointment, arrange this as soon as you can. You can do this online through the MoneyHelper website.

5. We make your transfer payment to your new scheme

Five working days.

Once all the checks are completed, if the transfer can go ahead, payment will be made to your new provider.

Capita will send out a letter to you and to the new provider to confirm when this has happened.