Pension drawdown glossary
Moving a pension from one provider or scheme to another, for example to consolidate old pots or to get lower charges or a better drawdown service. The provider you are leaving must carry out checks for signs of a scam before it pays.
Source: MoneyHelper: transfer or combine defined contribution pensions · Last reviewed 24 September 2026
See every term in the A–Z glossary. Definitions are general information for the 2026/27 tax year, not personal advice.
Important: The value of investments can fall as well as rise. You may get back less than you invest. Tax rules can change and benefits depend on individual circumstances. This is not financial advice.