u/NaniFarRoad

I am self-employed, and fund my pension privately. After a while unhappy with my current provider, I decided to transfer my pension in to a new SIPP, opened today. I've initiated the process from the new provider, and set up a new direct debit for the monthly fees to the new provider. But I'm worried I need to do more - such as cancel the old direct debit to the old provider, or set up a new direct debit for regular contributions, etc.

I am most worried about an automatic monthly transfer going into the old provider after they close the account, and that money ending up in limbo for months/years.

To anyone who has tried this before, are your monthly direct debits transferred as well or do they need to be reset manually? Any other bits of advice?

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u/NaniFarRoad — 16 days ago