Combining your pensions

Discover the benefits of bringing your old pensions together into one pot.

Why combine your pensions?

Usually you get a new pension when you change employers. This could mean you end up with multiple pots, leaving you feeling worried or confused. 

Bringing your old pensions together into one place, could make it easier to manage. Find out how the Retirement Account from our partners Scottish Widows could help.

What are the benefits?

  • Easier to manage - View, track and contribute to your retirement savings with one consolidated pension pot. You might also pay less in charges.
  • Less paperwork - With only one provider to deal with, you’ll enjoy reduced admin and fewer statements to juggle. 
  • A clearer outlook - By combining pensions together, you could gain a clearer picture of what to expect from your retirement savings and how to plan for the future you want.

How many jobs have you had?

Most people change jobs several times in their life. It’s likely you have one or more pensions you no longer pay into and keeping track of them can be tricky. 

It’s estimated there are 2.8m lost pension pots in the UK*. Combining your old pensions could help you get a clearer picture of your retirement savings.  

*Source: The Association of British Insurers (ABI)  – 2022

When shouldn’t I transfer my pension?

Though there are benefits to transferring your pensions, combining them may not always be the best move. There are some things you might want to consider.

  • You have benefits you don't want to lose – Some plans may have additional benefits that you would lose by transferring to a different provider. It’s worth checking what these might be.
  • You or your employer are contributing to your pension – If you transfer an existing workplace pension scheme, your employer will no longer pay into your pension pot.
  • If the charges and funds aren't right for you – It’s always a good idea to check what’s involved before moving your pension to a new account, as charges and investment options may differ.


There can be other reasons why switching providers might not be right for you. We’ll go through this in detail when you find out more about a pension transfer. If you’re unsure then we’d recommend that you speak to a financial adviser, who will normally charge you for advice.

Why combine my pensions into a Retirement Account?

The Retirement Account from our partners Scottish Widows is a 5-star Defaqto rated product*. (Source: Defaqto Annual Product Ratings – April 2023).

Scottish Widows logo

Award-winning* personal pension

  • Simple - choose a ready-made investment solution to suit your needs. 
  • Flexible - transfer in more pensions as you change jobs in the future.
  • Competitive charges - the more you have in your pension pot, the lower the overall charge rate.

Free to transfer in

We don’t charge you to transfer in or set up your pension (you should check if your existing provider charges you to transfer out).

Retirement Account explained


Why choose us?

Mobile phone logged into the online banking application

Pension on the go

You can use the Mobile Banking app to keep tabs on your pension. 

See at-a-glance how much your combined pension is worth – anytime, anywhere.

Here to help

  • Scottish Widows has over 200 years’ experience – making them the experts when it comes to pensions.
  • They've helped thousands of customers transfer from their existing pension providers.

How to get started

1. Find your pension details

You’ll need the details of your old pensions to start the transfer, including the pension providers’ names, policy numbers and a recent value.

Need help finding a pension? You can contact your past employers to help or use the government pension tracing service.

2. Find out how to transfer

Our simple three-step process will show you everything you need to know about how a transfer works. Find out if you’re eligible, if it’s right for you and what to expect from your transfer application.

How to transfer your pension Opens in the same tab

Frequently asked questions