Legal and General Pension Change of Address
Everything You Need to Complete Your Legal and General Pension Change of Address
Legal and General Pension Moving House
When moving home it is best to update your address across your pension providers (and all other accounts).
We’ll cover how to complete your Legal and General Pension change of address online in just a few minutes.
If you’re moving home you need to let your pension provider(s) know about your change of address. If your Legal and General Pension is registered to your previous address you will miss out on potentially important information.
Since you’re moving home, you’ll also need to update your address across other essential institutions and companies (HMRC, Council, NS&I, Energy etc…) at the same time.
For a quick, safe and hassle-free way of updating your address across your pension providers (and tell other companies) that you’re moving you can use our online change of address service.
Let’s jump straight in to completing your Legal and General staff pension change of address 😎
Tell everyone that you’re changing address in minutes.
At the click of a button we’ll update your address with your Legal and General Pension and across any other all accounts, at the same time in one place. You can also update your address with other pension providers, water, electoral roll, HMRC, councils and others that you are moving home. You can do this yourself manually if you prefer (see below) or use our hassle-busting service to save hours of time.
STEP 1
Update your address
Select who needs to know you're moving - Legal and General Pension, HMRC, Electoral Roll etc..
STEP 2
About you
Enter your previous address, new address and the date you moved home
STEP 3
Submit
Click submit and we'll update your address with accounts automatically
Our sloths will save you the time and hassle of organising all of the updates by taking care of everything in one place 🦥
Once you click submit we’ll update the address on your Legal and General Pension as well as any other institutions or companies you selected. You won’t need to do anything further, so you can kick-back, relax and spend your time doing something else.
If you’d prefer to update Legal and General yourself manually, you can call on 0345 766 0813.
How To Update Your Address with Legal and General Pension
Whether you currently draw your pension or not, it’s important to update your Legal and General Pension (along with any others such as Aviva) when you’re moving home.
Having the most up-to-date address across your pension accounts means you won’t miss any important updates by mail, nor will they go to a third party.
Here’s how to complete a quick and simple Legal and General Pension home move and other address changes:
- Head over to SlothMove’s moving home platform
- Select who needs to know you’re moving (Legal and General Pension, HMRC, electoral roll etc…)
- Tell us about your move (previous address, date of move etc…)
- Click complete and we’ll update your addresses automaticall
You can also update your Legal and General pension by phone (0345 766 0813).
If you’re using SlothMove you will also be able to select other pension providers and update them at the same time.
To complete the Legal and General Pension moving house process you’ll need to provide:
- Your Legal and General account number (starts with AV20…)
- Previous address
- New address
- Date of move
- Name
Can I cash in my Legal and General pension?
You are able to cash in up up to 25% of your total pension as a tax-free lump sum in cash, providing it is within your Lifetime Allowance.
The Lifetime Allowance is the amount of cash you are able to withdraw from your pensions without paying any additional tax. You can calculate your lifetime allowance by multiplying your expected annual pension by 20. Then, add that number with any tax-free lump sum from that pension to calculate your lifetime allowance
You can find more information about your specific Legal and General Pension in their scheme summary.
When can I take my Legal and General Pension?
You can take your Legal and General pension from the age of 55. Legal & General offer a lot of variety in terms of how you draw down that amount, from 25% cash lump sum to developing an annuity. All of the options have their own tax implications.
Most people have more than one pension at the point of retirement and each pension provider has different policies around when and how you can draw down your pension.
You final pension amount is calculated from your pensionable service at date of retirement and your pensionable salary.
Legal and General Pensions have lots of helpful resources which you may find helpful, including:
- Which schemes are available
- Drawing down your pension in light of Covid-19
- Annyuity’s and other options
Legal and General Pension Facts
Legal and General have a history stretching back to the 19th Century. A member of the FTSE100, they have over £1.2 Trillion in assets under management.
Most of their assets come through employers enrolling their employees into a workplace pension. If your eligible, you will be automatically enrolled into your workplace pension scheme with Legal and General.
Legal and General Pensions has one of the highest performing in the UK (L&G UK Gilt fund) with returns of 24.83% and 54.84%
So, are Legal and General pensions any good? Yoledar assessed 65 of their funds and found that 8 of them were very impressive, and 2 of them were excellent.
When can I take my Legal and General Pension?
According to Legal and General, you can take your pension from the age of 55. You can take this cash in a way that suits you, whether that be in an annuity, lump sum or other.
You final pension amount is calculated from your pensionable service at date of retirement and your pensionable salary.
How do I transfer my Legal and General Pension?
Now we’ve covered how to complete a change of address for your Legal and General pension, let’s look at how you transfer other providers into one place.
Most people reach end up with pensions across multiple providers. It can be easier to transfer all pensions into one place. This helps you to keep track of where everything is, save money on fees and make it simpler to manage.
So, how do you transfer your Legal and General Pension?
To transfer your Legal and General Pension you will need the following 4 pieces of information:
- Your current pension provider’s name (and the policy numbers)
- The scheme name of the pension you’d like to transfer
- Your National Insurance number
- Know how you’d like to invest your pension.
You would then submit an application and Legal and General would process that. if you’d like to take your pension from Legal and General to another provider then you would first need to choose where you’d like your pension to be managed. Then, follow that specific providers process.
Legal and General Pension Moving house & Beyond
We’ve covered everything you need to complete the Legal and General Pension moving home process 🎉
We’ve discussed how to update the registered address on your Legal and General Pension, as well as how to transfer-in other providers. We’ve also covered some insight on when you can draw down your pension. Now we’ve covered how to update your address online, feel free to explore SlothMove.