Just go ahead and transfer

Things to think about

Want to transfer a final salary pension?

If you transfer a final salary pension (sometimes called ‘defined benefit’), you’ll lose a retirement income based on your salary – and that’s something you’ll probably want to hold on to. That’s why we'll usually only accept this type of transfer if you get financial advice first.

Are any features or benefits on the pension you’re transferring important to you?

It’s up to you to check if the pension you’re transferring has any features, protected benefits or guarantees that are important to you – you’ll lose them when you transfer. The ball’s in your court to weigh up the pros and cons of transferring your pension.

Examples of features and benefits you might lose could include:

  • the opportunity to take more than 25% tax-free cash when you retire
  • guaranteed annuity rates
  • guaranteed growth rates
  • loyalty bonus
  • the right to let you take your pension benefits early.

Think about …

  • Whether your existing pension and your pension with Zurich give you enough investment choice and are suitable for the level of investment risk you're comfortable taking and can afford to take.
  • How the charges on your existing pension compare to those on your Zurich pension.

You’ll find more information on what to check in ‘Your Transfer Guide

How long will the transfer take?

It’s usually all complete within a month, but some pension providers can take longer.

Is there a cost for transferring my pension?

No - there is no additional cost to you for transferring your pension.

As part of the transfer agreement, Zurich FutureYou will receive £80 from your Zurich pension provider for each completed transfer.

Ready to start?

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Step 1: Read the Transfer Guide

This gives you the details of things to think about when you transfer and what you need to check. It’s really important to read this.

Read the 'transfer guide'

website info

Step 2: Remind yourself about your pension with Zurich

Take a look at your scheme’s website (if you need help finding this, contact us).

Before you decide to transfer, make sure you read the information about your pension on your scheme's website – it's really important to review the transfer illustration as this will give you information about your plan charges and how much your transfer might be worth in the future.

If you don’t have a transfer illustration, you’ll find the information in the ‘Key features – Information specific to your plan’.


Step 3: Complete the application form

To keep things simple there’s just a single form to complete and email it to futureyou@uk.zurich.com

To complete the form you’ll need the following information to hand:

  • Your old pension plan/scheme number(s) as well as your Zurich plan number
  • A recent valuation
  • Your National Insurance number

Download and start now


Step 4: Sit back and relax

You don’t have to do anything other than wait now for the transfer to go through. As soon as your pension is transferred to Zurich, we’ll let you know.

That’s it. All done!

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There is more than one way to transfer your pension.

Transfer with help from our financial advisers
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