Workplace pension transfers

As part of your decision to move your pension scheme, you’ll want to give your employees the chance to transfer any pension savings they’ve built up in your existing scheme into their new plan with us.

Our Royal London led transfer process means we’ll do all the work, leaving you to focus on the things that matter to you and your business.

Our Royal London led transfer process is simple, easy to use and it’s part of our tried and tested scheme set up process. We’ll lead and manage the end-to-end process for you and provide content to help you engage your workforce and raise awareness about the transfer.

Our toolkit will help you share the transfer news with your employees and what they can expect. Understanding the transfer may help them engage more with their workplace pensions and find out if they’re on track for the retirement they want. The toolkit contains useful awareness material including email template, poster, post card and banners. You can choose and download any item from the toolkit to use and share.

We’ll send your employees a transfer pack explaining more about transferring their pension savings and the things they need to think about to help them decide if a transfer is right for them. Our dedicated transfer team will be on hand to answer any questions employees may have about the transfer, they won’t give advice, but they’ll issue clear communications to help them decide. We’ll also let the members know that the transfer window has closed.

Transferring might not be suitable for everyone, but if they do decide to transfer, they can tell us via our mobile app or return the form included in the transfer pack. We’ll do the rest.

We’ll request the transfers from the existing scheme provider, give you regular updates along the way, and confirm once it’s all complete. You’ll have peace of mind with our streamlined transfer process, letting you focus on the things that matter to you.

Visit our website or speak to your financial adviser to find out more.

Your transfer toolkit

To help you let your employees know the transfer process is coming, we've created a communications toolkit for you. You can choose to use as many of the items you like.

We've included email templates, posters and banners which you can access below. Or, download our interactive toolkit to explore how you can use the communications to raise awareness.

To help you raise awareness of the scheme and that the transfer process is coming, we've created a toolkit where you can choose to use as many items as you like with your employees.

Dedicated team to help with the moving process

Our dedicated transfer team will manage the entire process. They’ll send the transfer pack and arrange transfers for those who decide to move their savings, keeping you and your adviser up to date throughout.

How Royal London led transfers works

If you want to find out more, here's a step-by-step process to how our Royal London led transfer process works and the role you’ll play.

Once we’ve received all the relevant information from your adviser and your new scheme with us is up and running, it’s important to explain the options to your employees to help them decide if they want to transfer their pension savings. So, we’ll help you tell them their transfer packs are on the way.

Royal London  
We’ll supply you with a toolkit that contains awareness posters, postcards, email template and an animation that you can share with your employees.

Employer (you) 
You can distribute the posters and postcards within your workplace and use our email templates with your employees.

When we’re ready to make the offer, we’ll send your employees clear and engaging packs. We’ll outline what’s involved and highlight what they need to think about to help them decide.

Royal London  
We’ll send a pack to each employee that’s in the scheme, containing a:

  • Covering letter or email and Transfer summary
  • Weighing up your options guide
  • Part-filled application form and pre-paid envelope for postal packs

Our dedicated transfer team will let you know once the packs have gone out, and they’ll be on hand to answer any questions about the packs. Your employees will need to confirm they want to go ahead with their transfer, but they can do this easily through our mobile app. We can also offer other ways to say yes if preferred.

Employer (you)

We’ll get the information we need to send the packs out from your adviser. You can use the toolkit we sent you to help increase pension awareness with your employees.

Once we’ve got the confirmation from your employees that they want to transfer, our dedicated team will request the transfer for their current scheme provider.

Royal London  
We’ll request the transfers from the existing provider as and when we get confirmation from your employees and will work with them to complete the process. 
To make sure those employees who want to transfer tell us in plenty of time, we’ll send reminder letters after the packs have been issued to those who we’ve not heard from.

Employer (you) 
You don't need to do anything – our transfer team will keep you and your adviser involved throughout, so you know what’s happening and when.

Our dedicated transfer team will make sure that each transfer is completed, and they’ll tie up any loose ends.

Royal London  
We’ll send employees their confirmation packs. 
If any of your employees haven’t confirmed they want to transfer, our team will let them know the offer is now closed. They’ll also send you and your adviser a final update.

Employer (you) 
Now that the transfers are complete, you may want to keep your employees up to date about their pension plan. We’ve got a range of materials to help you do this. They’re designed to drive the right behaviours and decisions to help your employees achieve the best outcome at retirement.

Want to know more?

If you want to find out more about how we’ll support you and your employees when it comes to transferring pension savings speak to your financial adviser.