What you do with your pension is an important decision that you may not be able to change. You should check you’re making the right decision for your circumstances and that you understand your options and the risks. Drawdown is a higher risk option than an annuity. The government's free and impartial Pension Wise service can help you and we can offer you advice. The information on our website is not personal advice.
Transferring your existing drawdown pension to the HL 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 HL 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 HL SIPP unless agreed separately.
Transfer and benefit from...
How to transfer to the HL SIPP
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.