Why is it so difficult to switch a pension? Navigating the transfer maze

‘If I didn’t work in pensions, I might have simply given up on many occasions

clock • 4 min read

PensionBee’s Lisa Picardo shares her personal story of transferring a pension, something which just shouldn’t be that hard…

When I landed my first job in my 20s, my workplace pension felt like an afterthought – thrown at me with zero guidance. Defaults weren't a thing, investment choices were a guessing game, and engagement was non-existent. With no tech to simplify things, no paperwork that made sense of what it meant and no customer service to lean on, I did what many did: picked an option at random and then forgot about it. Looking back, it's clear how far the industry has come – but also how much further it still needs to go. Fifteen years later, after starting my own business, my pension remained neg...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Planning ahead of IHT changes: Using pensions to support charities

Planning ahead of IHT changes: Using pensions to support charities

Practical planning steps for advisers

Pooja Shah
clock 16 April 2026 • 5 min read
FCA to take action against Hartley Pensions and involved individual

FCA to take action against Hartley Pensions and involved individual

Entered administration in 2022

Jen Frost
clock 15 April 2026 • 2 min read
From A-day to IHT: How government forgot the meaning of 'consultation'

From A-day to IHT: How government forgot the meaning of 'consultation'

'What is particularly galling is that there were viable alternatives'

Rachel Vahey
clock 14 April 2026 • 3 min read