Hargreaves Lansdown
Income Drawdown transfer

Transfer your drawdown
pension to the SIPP

Benefit from new pension freedoms

Request your income drawdown transfer pack

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.

Transfer and benefit from...

  • Pension freedom rules and flexible access to your pension
    Investors in drawdown in the Vantage SIPP can take advantage of new pension freedoms. If you are currently in capped income drawdown you will have the opportunity to choose to keep the cap, or move to New Drawdown and take unlimited income.

  • NEW lower costs
    No set up fee, no fees from us to transfer-in, no fee for drawing a regular income or one off withdrawals and no fee to switch from an existing income drawdown plan to the new unlimited version. Plus, exclusive super-low annual charges on top-performing funds and competitive annual management charges, together with online share dealing from £5.95 to £11.95 a deal. Find out more about drawdown charges and interest rates.

  • Wide investment choice
    Choose from over 2,500 funds (unit trusts and OEICs) run by the finest fund managers, as well as shares, investment trusts, gilts, corporate bonds, covered warrants, ETFs, and cash.
  • Complete control
    Choose all your own pension investments, hold them under one roof and manage them online, by phone or by post, whenever you wish. You can choose flexible drawdown if you qualify, based on current eligibility criteria. You can also continue drawdown beyond age 75.
  • Award-winning service
    We've been voted Best SIPP Provider by readers of What Investment for the past eight years running and awarded the Gold Standard for Retirement in 2014. Our income drawdown specialists are on hand to answer any questions you may have. There is no automated service, just friendly professional support.

Compare the different drawdown options

Financial advice

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.

How to transfer

To transfer your drawdown pensions into the Vantage SIPP, request your free income drawdown illustration and information pack, which includes just one short form for you to fill out and return to us, and we will handle the rest for you.

Request a transfer pack

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.

Important information

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.

Have a question about income drawdown?

If you have a question or would like more information call one of our specialists on:

0117 980 9940

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