Pension Transfers and Repensioning
In order to obtain the lowest possible Annual Management Charge (AMC) for your existing pension fund, you will need to set up a new pension through Cavendish Online and transfer your existing pension fund into it. We call this process 'repensioning.' The AMC on your existing pension is fixed and cannot be reduced. A new plan must be opened to obtain our AMC discount and you will then be able to transfer your existing pension into your new pension. Cavendish Online charges a one-off fee of £70.00 to cover both transactions.
How to apply?
Please visit the relevant product page below for more details.
Stakeholder Pensions
Personal Pensions
NOTE:
Unavailable Pension Transfers
Following guidelines from the FSA and due to the complications and risk involved in transfers from certain occupational schemes, Cavendish Online does not offer transfers from occupational or defined benefit schemes.
These include the following:
Non UK registered schemes,
Armed Forces Pension Scheme,
Main Police scheme,
Local Government Pension Scheme,
Main Civil Service Scheme,
Teachers Scheme,
Main Fire-fighters scheme,
NHS Pension Scheme and
Universities Superannuation Scheme.
