If you have a defined benefit (DB) pension, such as a ‘final salary’ scheme, transferring your pension to a personal plan (like a SIPP) is probably not in your best interest. These pensions not only give you a guaranteed income, they also normally offer benefits to a spouse or partner once you die. You might be able to transfer, but if the transfer value is more than £30,000, you’ll have to take advice from a regulated financial adviser. If you’d like to transfer to HL, you’ll also need to provide proof that the advice is in favour of transferring.