How do I transfer a cash ISA to a new pension, e.g. Nutmeg?

07 March 2022

Question by meg

How do I transfer a cash ISA to a new pension, e.g. Nutmeg?


Answered by Matt Angell

Hi Meg,

It all depends on who your cash ISA is held with as if it's on a platform of some sort then it is possible to move funds within tax wrappers.

However, most people will withdraw their funds from the ISA and then deposit these funds into a pension of their choice.

Placing money into a pension will however lock the money away until pensionable age so please make sure you won't need access to the funds until this time.

Hope this helps

Thanks

Matt

Answered by

Matt Angell

Founder & Financial Planner

I am the founder of Creative Lifestyle Planning, an independent financial planning firm that works with many families across the UK. Matt specialises in helping families to answer those all important questions they have on their mind and helping many clients gain a clearer, simply understanding of when and how to they can retire.