YIP can accept transfers in from other approved local pension schemes, including individual pensions that a member may have set up themselves (including a retirement annuity trust scheme) and transfer values from an employer sponsored defined contribution or defined benefit scheme.
There are no charges for transfers into YIP and the team are on hand to assist anyone who wishes to make a transfer in to consolidate their pension savings into one place.
It is also possible to make transfers from YIP into other approved local schemes, and possibly to other scheme types. It should be noted that for certain transfers an individual may need to obtain specialist financial advice and/or a report from a qualified actuary. YIP cannot provide any advice, however we can assist by making introductions to individuals who can assist with providing such services where required.
There are also no charges for transfers out of YIP into another scheme. Given there are no charges for transfers in or out of YIP, individuals have complete freedom to move their pension monies in and out if their circumstances change or they move between employers.
For more information on pension transfers please contact us – firstname.lastname@example.org