Transfer your drawdown
pension to the SIPP
Benefit from new pension freedoms
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 offered without advice as standard. Income drawdown is a more complex option, and if you are at all uncertain about its suitability, we strongly recommend you seek financial advice.
Our advisory team would be happy to help you, for more information about their services please contact them on 0117 317 1690 or visit the advisory services section of our website.
What you do with your pension is an important decision. Therefore, we strongly recommend that you fully understand your options. We offer a range of information to help you and independent financial advice if you are still unsure. Alternatively, Pension Wise, the Government’s new pension guidance service, is due to launch shortly providing a free impartial service to help you understand your options at retirement. You will be able to access the service online, over the telephone and face to face. Further details are now available at www.gov.uk/pensionwise.
Drawdown in the Vantage SIPP is arranged on a non-advisory basis. If you receive advice on your current drawdown plan, this will not continue if you transfer to the Vantage SIPP unless agreed separately.
Drawdown is a more complex option, if you are at all uncertain about its suitability for your circumstances we strongly suggest you seek advice. Your income is not secure. You control and must review where your pension is invested, and how much income you draw. Poor investment performance and excessive income withdrawals can deplete the fund leaving you short of income. From April 2015, new rules and restrictions on future pension contributions apply to investors in income drawdown: you should check how this affects you before making any decisions.
If you have a question or would like more information call one of our specialists on: