Why and how to transfer your old pension pots to Cushon

It's easy to end up with pension money squirrelled away in a few different places. Each time we change job, we add another new workplace pension pot to our collection, because different employers set us up on different schemes.  

Managing and tracking multiple pots can be a bit tricky

It’s hard to know what shape your savings are in when they’re scattered about. 

For example, if you simply want to check your total, you have to track down and add up all your different pots. A lot more effort than glancing at a single number.  

And for anything more in-depth, like checking if your pensions are performing well, it’s a giant spreadsheet waiting to happen! So why not consider bringing them together? 

Why transfer your old pots to Cushon?

1. Easy to see what you've got: With the Cushon app you can check your money all the time. See what you're paying in, and what your employer is.

2. Easy to see future returns:  Compare what your savings might turn into in the future with different levels of contribution. It makes it easier to see how it's going. 

3. Easy to make changes: If you want to change details on your pension - like what it should be invested in, or who should get your money after you've gone - you can do it all in one place. 

4. Easy to start accessing your money: No more paper to dig out in years to come. Get your hands on your money through the app when you start taking your pension (currently possible from the age of 55, rising to 57 from 2028). 

Need help finding your old pensions? Iris is on it! 

When you start a transfer in your Cushon app, you have a digital assistant to help you along.  

Iris guides you through the process and explains each step simply, helping you share as much or as little as you know about your old pension pots.  

And if you’re not sure about some of your pension details, Iris can use your work history instead. She passes the info to our team, who go on a mission to fill in the blanks. 

It’s completely free to use Iris, and you might even find savings you didn’t know you have! 

“I found a pension I didn’t even know I had from when I was a swimming instructor in my early 20s. I much prefer having them all in one pot.” 

How to start transferring your old pots

Step 1

Open the Cushon app and look for Iris. 

She’s below your pots so you may have to scroll down. 

Step 2

Tap on ‘Combine your pensions’. 

Then tap ‘Get started’ on the new page that opens.

Step 3

Tell Iris what you know about your pensions. 

Follow the steps to select your pensions or use your work history instead. 

Step 4

Sign your name so we can search on your behalf. 

Your digital signature allows our team to speak to your old providers and move your pensions for you.

Step 5

Sit back and relax while we do the legwork. 

If we need extra details, or discover any fees or complications, Iris will be in touch.  

You can keep track of progress in your Cushon app.

Before you go ahead

Remember: some kinds of pensions have special benefits attached, and may be best left where they are. Here are some things to consider. It's important to make informed choices about your pension. You may want to take professional advice before making any decisions.

Article by

NatWest Cushon Explainer