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When will my Vantage SIPP be tested against the Lifetime Allowance?

Your Vantage SIPP funds will be tested against the lifetime allowance at the following times:

  • When you move funds into income drawdown (even if you choose not to draw an income)
  • When an annuity is purchased with your fund before age 75
  • When you reach age 75

Every time your benefits are tested against the lifetime allowance you will be required to provide information to enable this to be done. If you are under age 75 and in drawdown, when you buy an annuity or reach age 75, your benefits will be tested a second time. However only the growth on the value of the funds since they went into drawdown will be tested. Your funds will not be tested again after age 75.



The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.

Hargreaves Lansdown is authorised and regulated by the Financial Services Authority.

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