Some pension providers might require you to enlist the help of a financial advisor to progress your transfer over to Penfold. You should check your terms or conditions or ask your pension provider for more details if they have such a requirement.

FCA rules state that before you can transfer a defined benefit pension (or other pension with safeguarded benefits) worth more than £30,000, you must get financial advice.

You can read more about this in our pension guide here.

Penfold does not accept transfers of defined benefit or pensions with safeguarded benefits.