Bringing it all together - Combining your pension savings with TPT

Keeping track of your retirement savings isn’t always easy. Depending on how long you’ve been working, you might have a few pensions dotted around the place - with previous employers and with different providers.

Sometimes, it makes sense to have all your retirement savings in more than one place (there’s that old saying about eggs and baskets…). But in other circumstances, getting everything together in one place can help organise and maximise your retirement savings.

There’s no right or wrong - it’s all about doing what works best for you.

If you’re still contributing to your TPT Scheme, you might be able to transfer other retirement savings into it.  So, if you have savings elsewhere and would like to bring them all together in one place, this might be an option for you to consider.

Things to think about

Is it the right choice for you?

Are you looking to organise your retirement savings, save money on investment charges or get access to a better range of investment funds?

Take a look at the reasons for combining your retirement savings at TPT and decide whether it’s the right approach for you.

Do you need a hand?

Combining your retirement savings is a big decision, and it might be one you’d like a bit of help with. Everyone’s circumstances are different, and everyone needs different things from their money in retirement.

You might want to speak to a financial adviser for advice and guidance. It can provide real peace of mind to know you’ve taken advice on a big decision. Financial advisers cost money, but you may be able to organise the first meeting for free to decide if you want to work with them.

How does it work?

If you decide that you’d like to combine your other retirement savings with TPT, there are 4 steps to take:

1. The first step is to ask your previous pension provider(s) for a transfer out statement/pack. Complete our transfer details form - this includes all the details you’ll need to give to your previous pension provider. We’ll also need you to fill in our transfer in application form. You can send this form back to us using our secure online portal – Contact TPT.
2. Once you’ve confirmed that you are happy to transfer, and that we can contact your previous provider(s), we’ll work with them to transfer the funds.
3. We’ll ask you about your preferred investment choice(s) and invest the amount transferred accordingly.
4. We’ll let you know once the transfer's been completed!

If you haven’t done so already, take a look at our combining your retirement savings page for more information.