How to transfer your Aviva pension to ii
Follow this step-by-step guide to transfer your Aviva pension to an ii Personal Pension (SIPP). Learn what you’ll need, how the transfer process works, and what to expect at each stage.
Important information: The ii SIPP is for people who want to make their own decisions when investing for retirement. As investment values can go down as well as up, you may end up with a retirement fund that’s worth less than what you invested. Usually, you won’t be able to withdraw your money until age 55 (57 from 2028). Before transferring your pension, check if you’ll be charged any exit fees and make sure you don't lose any valuable benefits such as guaranteed annuity rates, lower protected pension age or matching employer contributions. If you’re unsure about opening a SIPP or transferring your pension(s), please speak to an authorised financial adviser.
It’s about making the right choice for you
The right choice depends on how you want to manage your pension, your pot size, and your fees.
Transferring a pension to ii can be a good choice for many reasons. It can save you money, improve your investment options and give you greater flexibility with your retirement income.
But there are some important things to check and consider before you make your move.
Check 1: Will it cost you anything to transfer
It’s always free to transfer with ii from our side. But be sure to check if your current provider charges any exit fees or penalties.
Check 2: Will you lose any benefits by transferring?
Some pensions have protected benefits. Before transferring, make sure you won't lose any of the following:
- Guaranteed annuity rates
- Lower protected pension age
- Matching employer contributions
- Scheme-specific tax-free cash
Check 3: Should you take pension advice before transferring?
If you’re unsure about transferring your pension(s), please speak to an authorised financial adviser who specialises in pensions. And if you’re over 50 and thinking about retiring soon, you can also book a free and impartial guidance session with Pension Wise, part of the government’s MoneyHelper service. They can help you understand your options and decide whether a transfer is right for you.
Before transferring: what you’ll need
Pension transfers from Aviva are straightforward and are processed online. If you need any help throughout the process, our UK-based transfers team is here to support you.
Before you start, here are three things you’ll need.
Your Aviva policy number
This can be found in your Aviva documents, annual statement or online account.
Your approximate pension value
We only need an estimate. This is found on your latest statement or within your Aviva account.
Your National Insurance number
We need this to open your ii Personal Pension. Find yours on a payslip or P60 form.
Step 1 – Open your pension or log in to request your transfer
If you don’t already have one, you can open your ii SIPP in less than 15 minutes on our website or via our mobile app.
Once you’ve opened your SIPP - or if you already have one - simply log in to your account, click Portfolio, then Transfers, and Transfer in to initiate your transfer.
We’ll then work with Aviva to transfer your pension to ii. If we need any additional information, our UK customer service team will contact you via secure message.
Step 2 – Tell us how you want to transfer your Aviva pension
Most Aviva pension transfers to ii are in cash.
Transferring your pension as cash is usually quicker. However, being out of market means during the transfer you may miss out on potential gains, though you could also avoid potential losses.
Where possible, you can transfer investments directly - known as an "in-specie transfer". This means you stay invested while the transfer is underway, and you won’t incur trading charges for selling and repurchasing your investments on either platform.
Many investments aren't available for an in-specie transfer, though. That's because Aviva branded funds and other assets are only available through them directly. If you hold these investments, Aviva will need to sell your holdings during the transfer process and you can reinvest the cash with ii. To help guide you through some investment options, our expert picks can help.
For an in-specie transfer, if any of the investments you wish to transfer aren’t available on the ii platform we’ll get in touch to discuss your options.
Cash transfer
As part of the process, Aviva will sell your investments and the proceeds are transferred to your ii Personal Pension (SIPP).
In-specie transfer
Certain types of investments can be moved across, keeping you invested throughout the process.
Full or partial transfer
You can transfer your Aviva pension in full or make a partial transfer.
Drawdown transfers
If you are transferring a pension which has funds in drawdown, we require you to complete our drawdown investment strategy form alongside your transfer form. The easiest way to return your form is via Secured Messaging in your account.
Please note we only accept full transfers in for pensions in drawdown.
Step 3 – We’ll process your transfer
We will send your transfer request to Aviva, they’ll review it and get your pension ready for transfer.
While most most Aviva pensions are securely transferred to us online, if additional forms are required, we’ll tell you exactly what is needed and how to return them.
We’ve listed some of the forms you may need.
What you may need
- ii SIPP transfer form (we'll get in touch if you need to complete this form)
- Aviva Pension Portfolio Discharge Form & Pension Discharge form (in the unlikely event your pension will be transferred manually, we will get in touch and ask you to complete this form)
- Drawdown investment strategy form (if you are already taking an income from your pension)
- Financial advice declaration form (if your safeguarded benefits exceed £30,000)
Step 4 – Your pension arrives in your ii account
Aviva will transfer your pension as cash or investments - whichever you’ve requested - into your ii Personal Pension.
If there are any issues with the process, we will get in touch via Secure Message.
You can monitor your pension transfer from Aviva to your ii pension via the Track my Transfer page. We’ll also email you updates at key stages and confirm when the process is complete.
If you’ve already accessed your pension
If you’ve taken money from your Aviva pension, the transfer process can require additional information.
Pension drawdown pots must be transferred in full. Partial transfers of drawdown (crystallised) funds are not permitted.
If you hold both a drawdown (crystallised) pot and a non-drawdown (uncrystallised) pot, you can transfer these to ii.
What you need to know
- Income withdrawals may pause during the transfer. This is only temporary, you’ll be able to set up a new withdrawal arrangement with ii once your transfer is complete
- If you hold both drawdown and non-drawdown pots in your ii SIPP, they are managed using a notional split. This means that the value of each pot will change in line with the performance your investments
How long will my transfer take?
Most pension transfers follow a similar process but here is what Aviva customers can expect:
- All Aviva pensions can be transferred securely online - one of the most efficient ways of completing your transfer
- Although the full cash transfer process can take between 2 and 6 weeks, you’ll likely only be out of the market for a shorter period
- In-specie transfers take between 8 and 12 weeks, with the length largely dependent on the make up of your portfolio and how quickly your investments take to re-register
- Some Aviva transfers complete sooner - the average transfer from Aviva to ii last year was 2 to 4 weeks
Our transfers team is here to help
Your Aviva pension transfer is handled by our UK-based team.
We will send you regular updates on how your transfer is progressing. If you need any other additional information from you, we'll let you know via Secure Message.
How can Pension Wise help?
If you’re thinking about retiring soon and want to understand your options, contact Pension Wise. Pension Wise is the government’s free and impartial pension guidance service. They can also help you decide if transferring your pension is right for you.
Another helpful place for all things pensions and personal finance is MoneyHelper. It offers free guidance and tools to help you get to grips with your money.
Please note that neither Pension Wise nor MoneyHelper offer advice on specific investments.
Aviva to ii pension transfer FAQs
Transferring a pension usually takes 2 to 6 weeks to complete for a cash transfer, going up to 8 to 12 weeks if you’re transferring your investments. Last year, the average pension transfer from Aviva took 2 to 4 weeks to complete.
We will keep you updated throughout with regular emails, and you can always reach out if you have any questions about how the transfer is going.
You can transfer some of your Aviva pension investments without having to sell and repurchase them later on the ii platform. This is known as an ‘in-specie’ transfer.
In-specie transfers mean you remain invested throughout the transfer period, so your money is subject to market movement and may not be the same value when you see it in your ii pension. However, not all investments are eligible for an ‘in-specie’ transfer. This could be because it is an Aviva-branded fund or we don’t offer the investment. In these instances, the transfer team need to sell your holdings and move your cash to the ii platform - where you can invest in a range of other assets.
For most transfers we only require the information submitted during the online transfer process. But, if we require any additional information, we will reach out via Secure Message.
Yes, you can transfer pensions in drawdown to the ii SIPP with ease. Only full transfers are allowed, however.
Please also note you may not be able to take an income from your pension during your transfer. As well, if you plan to hold both drawdown and non-drawdown pots in your ii Personal Pension, you cannot allocate specific investments to each pot separately. This means that the value of each pot will change in line with the overall performance of all the investments held in your SIPP. Read more about notional splits.
There’s no charge to transfer either investments or cash from Aviva to ii and we do not charge for the transfer process. However, it’s worth getting in touch directly with Aviva to check if they'll charge any transfer or exit fees.
