Your guide to making a transfer
If you are no longer a contributing member of the UPP, you can ask to transfer your benefits to a new pension arrangement. This could be to your new employer’s pension scheme or a personal pension or stakeholder arrangement, as long as they are willing and able to accept the transfer.
Select from the options below to find out what is involved in the transfer process and what to look out for.
If you change jobs and you, or your new employer, wish to continue making contributions to the UPP administrator, Fidelity, then a new pension account will be set up for you. In that case, all of the existing assets in your current pension account, will be transferred to this new account. The charges that will be applied under the new account could be more or less than those charged under the UPP arrangement.
Please contact Fidelity for more information about this option.
The transfer process
Once you have read all the important information and are comfortable that this is the right decision for you, please contact the provider you have chosen and ask them to start the transfer. There are some tips on choosing a new provider below.
The transfer process will then look like this…
1.Fidelity receives your request to transfer
Once they have your transfer application, the new provider will get in touch with Fidelity and ask Fidelity to move your pension to them.
If they cannot do this, please contact Fidelity to let us know you want to transfer. Fidelity will send you a transfer pack containing a transfer discharge form and a transfer out questionnaire.
You only need to complete the transfer discharge form, but do not send it to Fidelity. Instead, send it to your new provider with the blank transfer out questionnaire. They need to complete this and return it to Fidelity with:
- Their HMRC approval letter.
- A screenshot of their plan details from the HM Revenue & Customs website, dated within the past three months.
- Evidence of registration with The Pensions Regulator (only if the plan has more than one member).
- Your completed transfer discharge form.
There are different forms and requirements for transfers to a qualifying recognised overseas pension scheme, so the scheme should contact Fidelity for a different pack and list of requirements.
2. Fidelity reviews the information and takes the necessary steps
Once Fidelity have received and checked all the information they need, they will sell the investments in your account and send the proceeds to your new plan.
3. Your transfer is complete
Finally, Fidelity will send to you and your new plan written confirmation that the transfer has been completed.
Under current legislation, Fidelity have up to six months to complete a transfer after they receive a valid request.
While they try to complete requests as quickly as they can, there are some cases where extra checks are needed. These may take longer to complete – Fidelity will write to you if there is a delay to your transfer.
Choosing a new pension provider
Generally, a transfer can be considered if the new provider is an approved personal pension, an insurance policy or a new employer’s registered pension scheme.
Fraudsters may pose as one of these companies or try to lure you into an illegal transfer. If that goes through, your money could be lost and you might even face a large tax bill.
When choosing your new provider, it is important to be on the lookout for potential scams like these and take steps to protect your pension savings.
Study the details of any transfer carefully and be particularly wary of ‘deals’ such as:
- overseas investments
- guaranteed returns
- one-off pension investments
- cold calls
- upfront cash
- promises to help you access your pension funds early, before your Normal Minimum Pension Age (NMPA)*
- advice to transfer your pension savings into small occupational schemes to avoid scrutiny from regulator
These offers are unlikely to be genuine.
*NMPA is currently age 55, increasing to age 57 from April 2028. However, some individuals may have specific circumstances which means their minimum age is lower. Please refer to your Member Guide for further information.
- Check the deal you are being offered is not a known scam – see the FCA website for an up-to-date list
- Confirm that the company is registered with the FCA. You should also check this for any adviser who might have led you to the new scheme you are considering.
- Gain a firm understanding of the benefits you may lose by leaving the UPP and, by comparison, what your new scheme offers, as well as what it costs and how it will invest your money.
- Seek independent financial advice. This is very important, and we would strongly encourage you to do this if you are thinking of transferring your benefits out of the Scheme. You can find an Independent Financial Adviser (IFA) in your area on the Unbiased website. You can also visit the MoneyHelper website or call MoneyHelper’s Pension Helpline on 0800 011 3797.
- Recognise the signs of a scam and what to do if you are concerned. For more information, visit:
For more top tips, download and save the protecting your pension factsheet or visit the dedicated scams page.
Reporting a scam
If you suspect that you have seen a scam, or have been a victim of one, you can call Action Fraud on 0300 123 2040 or the FCA Consumer Helpline on 0800 111 6768 (freephone). You can also report online using the button below.
Getting financial advice
Neither Uniper nor Fidelity can give you financial or investment advice.
We strongly suggest that if you are considering a transfer, you should speak to an Independent Financial Adviser (IFA). An IFA will help you understand your pension and the options available to you.
You can find an IFA in your area on the Unbiased website. You can also visit the MoneyHelper website or call MoneyHelper’s Pension Helpline on 0800 011 3797.
See the help and advice page for more information.
You can also find additional information about transfers online, including via the links below:
