# Can I transfer my defined benefit pension?

> Quick answer · Last updated 4 July 2026

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## In short

You can transfer a defined benefit pension to a cash pot, but you give up a guaranteed income for life. If the transfer value is above £30,000 you must take FCA-regulated advice first — and for most people staying in the scheme is the safer outcome.

Defined benefit pensions pay an income based on salary and years of service, not investment performance. Transferring out converts that promise into a lump sum you must invest or draw down yourself.

The FCA requires regulated advice on transfers above £30,000 because poor transfer decisions have caused serious consumer harm. Cold calls pushing DB transfers are a warning sign.

Read our defined benefit transfer warning guide and compare DB vs DC pensions before acting. Pension Wise offers free guidance but not transfer recommendations.

## Related

- [DB transfer warning](https://moneyguide.org.uk/pensions/defined-benefit-transfer-warning/)
- [Defined benefit pension explained](https://moneyguide.org.uk/pensions/defined-benefit-pension-explained/)
- [DB vs DC compared](https://moneyguide.org.uk/compare/defined-benefit-vs-defined-contribution-pension/)

## Primary source

gov.uk/hmrc-internal-manuals/pensions-tax-manual/ptm027000

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Independent UK money guidance from [Money Guide](https://moneyguide.org.uk). Information only — not regulated financial advice.