If you are not familiar with the personal pension transfer term, then you need to know that it refers to the pension transfer from one provider to another; that could take several forms: for instance, you can transfer your pension from a personal pension scheme to another of the same kind, or from a final salary plan to a personal scheme. In any case, your contributions are transferred to another plan and company, which will be from now on your current provider. Usually people decide to transfer their personal pensions when they change a job, although sometimes they tend to abuse this option. Most people do not consider the possible pros and cons of such a move, but consider it to be mandatory if they change their working environment. This is not true, though, since sometimes the personal pension plan allows them to keep it as it is, even though they change jobs. Careful research and serious consideration of the risks and benefits are the key elements in such an effort, so as to ensure that you know everything you should about pensions. Your old age pension is a very serious issue so no rush is needed.