Bring your pensions together and get cashback as a thank you

1.1. These Terms and Conditions apply to the Lloyds Pension Transfer Cashback Offer (the “Offer”).

a) Subject to these Terms and Conditions, the Offer gives eligible customers the opportunity to receive cashback when they transfer one or more eligible pension(s) with a combined value of £20,000 or more into a Lloyds Ready-Made Pension (“RMP”) and/or Lloyds Self-Invested Personal Pension (“SIPP”).

b) The Offer applies to transfer applications submitted using the online transfer journey between 1 June 2026 and 30 November 2026 (the “Offer Period”) which is set out in Section 3. Transfer requests must be completed in line with these Terms and Conditions, including the qualifying and maintenance requirements set out below in section 4.
To qualify for this Offer, you and the pension(s) you are transferring must meet the criteria set out in Sections 3 to 7 of these Terms and Conditions.

1.2. By taking part in this Offer, you agree to be bound by these Terms and Conditions. Please read them carefully before deciding whether to participate.

2.1. Eligible customers may receive cashback when they transfer one or more eligible pension(s) with a combined value of £20,000 or more into a RMP and/or SIPP within the Offer Period.

2.2. Where a customer transfers into both an RMP and a SIPP as part of the same application or transfer journey, this will be treated as a single eligible transfer for the Offer, and any cashback will be calculated based on the combined value transferred across both accounts.

2.3. Cashback will be determined in line with the cashback bands set out in Section 8 below, based on the total combined value of eligible transfers at the point the transfer(s) complete.

2.4. Where a customer makes multiple eligible transfers within the Offer Period, they will be treated as a single eligible transfer for the Offer and any cashback will be calculated on their combined value. The cashback band you qualify for will be determined based on the total combined value of those eligible transfers when your transfer(s) complete, subject to the qualifying and maintenance requirements set out in section 4.

2.5. Stock value will be calculated at the mid-point closing price on the day it is received into the account. This is calculated to 4 decimal places.

2.6. For the purposes of calculating cashback, eligible pension stock and cash transfers (where applicable) will be combined.

3.1. This offer is available to new and existing customers.

3.2. To qualify, you must:

a) Open or already hold a Lloyds RMP and/or Lloyds SIPP; and
b) Complete an online transfer form for each transfer request by 30 November 2026,
c) You must hold or open a Lloyds Banking Group bank account in your name which must remain open and eligible to receive the cashback payment until payment is made.

3.3. Transfer requests must be submitted during the Offer Period and have a combined value of at least £20,000 (valued at the point each transfer completes).

a) Online transfer forms must be completed and confirmed (by selecting ‘agree and continue’) no later than 11:59pm on 30 November 2026.
b) Where a paper form is required by your existing provider, it must be returned within 21 days after the transfer has been initiated. After this time, the transfer will be cancelled.

3.4. This offer applies automatically. If you wish to opt out, you must contact us by telephone to do so.

4.1. To remain eligible for cashback, the rights under the RMP or SIPP attributable to, or purchased by, the eligible transferred pension(s) must be maintained from when each transfer is received into the account until 31 May 2027 (Qualifying Period).

4.2. Any withdrawals or transfers out of the RMP or SIPP during the Qualifying Period will reduce the rights attributable to, or purchased by, the eligible transferred pension(s), and will result in cashback being calculated on the value of the remaining rights attributable to, or purchased by, the eligible transferred pension(s) as at the date each eligible transfer completed. If the re-calculated value of those remaining rights is less that £20,000, no cashback will be paid. Otherwise, the cashback will be re-calculated using the cashback bands set out in Section 8 below.

4.3. If the value of the rights attributable to, or purchased by, the eligible transferred pension(s) decreases solely due to market movements, the cashback entitlement will be unaffected.

4.4. If, after cashback has been paid, you withdraw or transfer out from the RMP or SIPP before 31 December 2027, some or all of the rights attributable to, or purchased by, the eligible transferred pension(s), Lloyds reserves the right to reclaim some or all the cashback paid. The amount(s) reclaimed will be determined following each withdrawal or transfer and will be calculated using the methodology set out in 4.2 by deducting the revised cashback amount from the cashback paid.

5.1. Transfers must be from UK‑based pension schemes and UK‑based providers. Full details of eligible and ineligible transfers are set out in the Ready‑Made Pension Key Features Document and the Self‑Invested Pension Plan Key Features Document.

5.2. Lloyds is not responsible for delays caused by your existing pension provider.

5.3. Transfers from active workplace pension scheme are not eligible for this Offer.

5.4. In specie transfers from your existing pension provider will not be accepted into an RMP.

5.5. Transfers from existing Lloyds, Halifax, Scottish Widows and Bank of Scotland Ready-Made Pensions or Self-Invested Personal Pensions are excluded from this offer.

6.1. Lloyds will work with your existing provider and make reasonable efforts to transfer all investments. Where possible, investments will be re‑registered and moved to your Lloyds SIPP without being sold. Where re‑registration is not possible, investments may be sold by your existing provider in order to complete the transfer.

6.2. If an investment cannot be re‑registered or sold, it will not be transferred and will remain with your existing provider. This may result in a partial transfer or, in some cases, your existing provider cancelling the transfer. We will contact you if this applies.

7.1. You must hold a Lloyds Banking Group (Lloyds, Halifax or Bank of Scotland) personal bank account in your name which must remain open and operational at the time the cashback is paid.

7.2. Wherever possible, we will pay the cashback into an eligible Lloyds Banking Group personal bank account in your sole name only.

7.3. If you have more than one Lloyds Banking Group bank account in your sole name, we will decide which of those accounts the cashback is paid into.

7.4. If you only hold a joint Lloyds Banking Group bank account, we will contact you before paying any cashback to agree how the cashback should be paid.