Retirement planning and pension consolidation with Netwealth

The first step is to open a new pension account with Netwealth by designing an investment on our website here. Once your pension account has been created our online pension transfer tool is used to input details of the pensions to be consolidated. If your current provider(s) require a form we will let you know, however, in many cases the digital signature is enough. Our Client Services team then use the information you provided to request the transfer of the funds from your existing pension(s) to your new Netwealth pension. Once the funds are received they are invested in the portfolio you chose when designing your investment.In most cases, your old pension will then be closed although you can request that they are kept open if, for example, you only wanted to transfer part of a pension to Netwealth.

Yes, you can make regular personal or employer contributions at times convenient to you, either by regular direct debit or one-off payments from your bank account. The Netwealth Personal Pension is a HM Revenue & Customs registered pension scheme, and as such benefits from the normal tax relief available to pensions. You can receive tax relief on personal contributions up to the value of your earnings, or £3,600, whichever is the higher. We will claim basic rate tax relief on your behalf from HMRC and this can then be added to the account.

Once you have opened your Netwealth Personal Pension, you can easily transfer one or more existing pensions through our simple online transfer form. In the rare instances where there is any additional paperwork to complete, we will let you know.

Pension transfers vary depending on the provider and the type of pension you are transferring across e.g. whether it is a SIPP or workplace pension. It is best to allow 6-8 weeks, but we can give you a more accurate estimate once we receive your transfer request. In rare cases the transfer may exceed the 8 week estimated time frame but this will depend on your existing provider and the amount of paperwork required by them. Our transfer team complete weekly chasers and can provide updates whenever you need them.

There are no charges by Netwealth for transferring in a pension. However, you should check with your existing provider as some providers do levy exit charges.

Where you have any uncrystallised pension funds, these can be partially transferred. For crystallised pension funds, normally these have to be transferred in full, although it is worth checking with your existing provider as there may be an ability to partially transfer these.

Yes, we offer guidance on retirement or full financial planning. The first step is to book a complimentary initial call with an adviser to discuss your individual circumstances.

The minimum amount to open a Netwealth account is £50,000 and given the fixed £150+VAT administration charge we would not recommend opening a Netwealth Personal Pension for much less than this, unless you are planning to increase the value of the pension through additional contributions in the near future. You can transfer SIPPs, stakeholder pensions and most defined contribution pensions to Netwealth. Under most circumstances we are not able to accept transfers from a defined benefit (final salary) pension schemes but if you are looking to transfer one of these schemes please book a call to discuss further and our advisers will be able to confirm.

The pension is invested in one of our seven risk levels as chosen by you. You can split your pension into different portfolios depending on your retirement goals. Each of our risk level investment strategies are monitored and managed by our deeply experienced investment team.

Our website and mobile app are available for you to view your holdings, transactions and the performance of your pension investments.

There is an annual administration charge of £180 levied by Quai Investment Services Limited. Other charges may apply depending on the services you access. Full details of our charges can be found at fees other