Banky team Reviewed editorial answerIf you have an existing loan secured by your pension transfer, changing your pension bank may be contingent on settling the loan or obtaining approval from your current bank.
Key points
Before submitting a transfer request, inquire with your bank about your debt status and whether you can change the payment method or transfer the obligation.
Do not stop the transfer before reaching a written agreement, as the installment remains due even if the transfer provider changes.