Transfer your drawdown pension
Make the most of the pension freedoms
Make the most of the pension freedoms.
Important: Drawdown is a more complex option than an annuity. What you do with your pension is an important decision: you could run out of money. Make sure you understand your options and check they are suitable for your circumstances: take appropriate advice or guidance if you're unsure. Our service is not personal advice but we can offer advice if you specifically request this. The Government's free Pension Wise service can also help - more on Pension Wise.
Transferring your existing drawdown pension to the Vantage SIPP (Self Invested Personal Pension) is easy and in many cases you don't even need to sell your existing investments.
Before transferring, you should check whether any penalties will be applied to your existing plan, and that the transfer will result in at least comparable benefits. Drawdown in the Vantage SIPP is arranged on a non-advisory basis. If you receive advice on your current drawdown plan, this won't continue if you transfer to the Vantage SIPP unless agreed separately.
Most pension policies are transferred electronically as cash, so you will be out of the market for a period, taking less than 10 working days on average to complete. Transfers of investments are possible but can take significantly longer.
Drawdown is an option that requires you to make an active investment choice and review investments regularly. Portfolio+ is not specifically designed for drawdown. Nonetheless our Portfolio+ range is available for drawdown investors who believe it meets their individual requirements.