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More about SIPPs Open a SIPP
Important information: SIPPs are a type of pension for people happy to make their own investment decisions. Investments go down in value as well as up so you could get back less than you invest. The rules mentioned are those currently applying and could change. You can normally only access the money from age 55 (57 from 2028). Tax reliefs depend on individual circumstances. Before transferring a pension please ensure you will not lose valuable guarantees or incur excessive transfer penalties. Pensions are usually transferred as cash so you will be out of the market for a period. This website is not personal advice, if you are unsure please seek advice.
Why invest in a SIPP?
A Self-Invested Personal Pension (SIPP), like other pensions is one of the most tax-efficient ways of saving for your retirement. Unlike traditional pensions where investment choice can be limited, a SIPP gives you the freedom to invest almost anywhere you like.
You can control how much goes in, and when it goes in - all from your easy-to-manage online account.
SIPP features
- Tax-efficient - no UK income tax or capital gains tax on pension investments
- Tax relief - £10,000 in a pension could effectively cost you as little as £5,500 (£5,400 for Scottish taxpayers), you’ll get at least 20% tax relief
- Free from inheritance tax - pass on wealth tax efficiently, and in some cases completely tax-free
- Contribute as much as you earn - exceptions apply, find out more
- Flexible access - from age 55 (57 from 2028), take the money how you wish, up to 25% tax free and the rest taxable
Why choose Hargreaves Lansdown?
- Trusted by over 1.7 million clients - we're a financially secure FTSE 100 Company, regulated by the FCA
- Award-winning - we've won over 190 awards, including Best Buy Pension 2022 from the Boring Money Awards
- Wide investment choice - thousands of investments to choose from
- Help choosing investments - get the latest investment news and insight from our team of expert analysts
- Ongoing support from our friendly and knowledgeable UK-based helpdesk
Cashback Transfer your old pensions to your SIPP
Combining your old pensions into one online plan can make life easier.
You’ll know exactly how much you’ve got altogether, and how all your investments are performing and only need to deal with one provider. The fastest way to transfer is online.
Act by 30 June and get cashback as a thank you. Terms apply.
Low-cost investment
- No set-up or transfer-in charges
- No charge to buy or sell funds
- Online share dealing from £11.95 or as low as £5.95 per deal
- Annual charge of just 0.45%, or even lower for larger portfolios View our full list of charges
The HL platform provides a very easy way of managing my SIPP. The recent pension transfer into my SIPP was flawless, and executed perfectly, with very good level of communication.MR FABIJANIC, Middlesex
Terms of the Spring 2022 transfer cashback offer – SIPP transfers only
1. Subject to these terms and conditions, if you transfer an existing pension from another platform, you will receive a cash amount depending on the amount you transfer (the “Offer”). The Offer is funded by us and the cashback will not come from your own cash or investments.
2. If you transfer existing pensions with a total value of at least £10,000 from other providers to our platform in your HL Self-Invested Personal Pension or Drawdown Pension, you will receive a cash amount between £100 and £500, depending on the total amount you transfer (the “Offer”).
3. The Offer will be available between 6 April 2022 and 30 June 2022 inclusive (the “Offer Period”). If we receive your qualifying application within the Offer Period, even if the transfer itself isn’t completed until after the Offer closes, you will still qualify.
4. The value of your cashback will be based on the cumulative total value of qualifying pension transfers made within the Offer Period. The value of the cashback paid will be determined in accordance with the tiers identified in the table accompanying these terms and conditions.
5. The following are excluded from the Offer: (1) the transfer of a Junior SIPP or defined benefit/final salary pension (2) new money cash subscriptions into any existing HL Account; (3) the lodgement of certificated shares; (4) movements of investments or cash already held on the HL platform, including switches or transfers between or within existing HL accounts or income and interest received on any assets held in those accounts.
6. The Offer will only apply to cashback transfer forms coded TRCM3, OTD, OTK, OTP, OTS, CBE422A, received by us within the Offer Period. If transferring a drawdown pension, you must include a note requesting cashback with your postal application to qualify.
7. The cashback payment will be paid into your Loyalty Bonus Account which is separate from your other HL Account(s). You will receive the cashback payment within the last 10 working days of the next month, from the date that your last qualifying transfer completes. The payment date will be determined by us. The cash can be kept in your Loyalty Bonus Account for fee collection, withdrawn or moved into another of your HL accounts. If moved into an ISA or SIPP, it will count towards your annual allowance.
8. We ask you keep your HL account(s) for one year from the date that the last qualifying transfer completes. Please feel free to switch between investments and in or out of cash within your account, but if you decide to transfer away or close your account within 12 months of the date your transfer completes, then we reserve the right to reclaim the cashback paid. If cash is to be reclaimed, then you will be notified, and the cash will be taken within 7 days of the account closure or transfer out.
9. It isn’t possible to combine the value of transfers into accounts with different client numbers for the purpose of this Offer. The maximum amount of cashback you can receive under this Offer across all pension transfers is £500.
10. If you need more time to decide whether you want to transfer to us, please complete the extension form and we will extend the pension deadline for you by six months. Alternatively, call our Helpdesk on 0117 980 9926 or send a secure message through your online account .
11. We reserve the right to remove or suspend the Offer if necessary, including for legal or regulatory reasons or otherwise, by posting a notice on our website. If the Offer closes early, all qualifying applications already received at the time of the posting of the notice will still be accepted.
12. We also reserve the right to determine how the cashback payment is calculated. Therefore, if you are not sure how your transfers will be treated under the terms of this Offer, please contact us before you apply to transfer. By submitting a qualifying application, you agree to be bound by the terms of this Offer.
13. These terms are governed by the laws of England and Wales and subject to the exclusive jurisdiction of the courts of England and Wales.
14. This Offer is provided by Hargreaves Lansdown Asset Management Limited, which is a limited company registered in England & Wales with the company number 01896481, whose registered office is 1 College Square South, Anchor Road, Bristol, BS1 5HL. References in these terms and conditions to “our”, "us" or "we" are to Hargreaves Lansdown Asset Management Limited.