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Know your pension banner

Your pension is there to help you make the most of your retirement. The better you know your pension, the more confident you'll be that you are saving enough for your retirement.

Important information: This page is to help you know more about your pension and is not personal advice. If you’re not sure what’s best for your situation, you should seek financial advice. Money in a pension is not usually accessible until age 55 (57 from 2028). Investments rise and fall in value, so you could get back less than you invest.

Know Your Pension Checklist

Our HL Know Your Pension checklist can help you with ways to be on top of your pension and to see how much your pension might be on track to pay. Easy-to-use online tools and calculators can help you plan better for your retirement.

Find out how big your pension pot is

Register for online access and log in to view your account at least twice a year – once at the very least.

Download the HL app, and view your SIPP on the go, whenever and wherever you like.

Nominate a beneficiary

Take control of where your money goes once you die. You can choose to nominate as many people as you like and should consider reviewing your nominations every three years.

Log in to your account, under Account settings, click 'Manage SIPP beneficiaries'. Or, download and complete an 'Expression of Wish form' and send it back to us by post.

Check your current contributions

Use this opportunity to review your current and future financial needs, and consider paying in more if you think you can afford it. Even a little bit extra can add up to a lot over time.

Remember, money in a pension can usually only be accessed from age 55 (57 from 2028).

Log in to your account, click the ‘Transaction History’ tab, then ‘View all contributions’.

Review your investments

Consider if your personal circumstances have changed and if that could have an impact on your investment objectives.

If you wish to make changes to your current investments depending upon your risk appetite, you can log in to your account and make changes in the Account Summary section.

Remember, all investments can go down as well as up in value so you could get back less than you invest.

The quarterly investment report we send you will have all the details of where your investments are held and how they are performing.

Find out how much you need to retire

If you are approaching retirement, consider checking in on your State Pension to work out how much income you’re going to need.

The Pensions and Lifetime Savings Association (PLSA) has proposed three living standards to help simplify saving for retirement.

Consolidate old pensions

Getting all your pensions under one roof can be an easy way to manage your pension more effectively, review regularly and stick to your targets.

If you’ve moved jobs or changed address you could have an old pension waiting to be found. To help you hunt down any lost pensions, we’ve gathered some helpful tips and tools.

Guides & tools

Pension calculator

Find out if you're on track to get the income you want in retirement.

Try the calculator

5 costly pension mistakes to avoid

Discover 5 tips to make the most of your pension.

Read article

How much should I pay into my pension?

We explore what to consider when deciding how much to contribute, and why it pays to start early.

Read article

Why transfer pensions to the HL SIPP?

Moving old pensions to your HL SIPP can help you to take control of your retirement savings.

  • Potential for greater returns
    Choose from a wide range of investments, which could offer greater potential for your money to grow.
  • Flexibility at retirement
    With the HL SIPP, you're free to choose from all the main retirement options, including taking a flexible income.
  • Save time and money
    One statement, one online account, one platform fee and one company to contact with questions.
  • A clear view
    See your overall pension value in one place, which could help you to make better decisions.

Before transferring make sure you check you won’t lose any valuable benefits or have to pay high exit fees. If you choose to transfer your pension as cash you’ll miss any market rises or falls for a period. If transferring as stock is an option and you choose this, you will remain invested but may be unable to change your investments while the transfer is in progress.

More on transferring a pension


Making contributions

  • How much more can I pay into my SIPP?

    If you’re a UK resident under 75, you can make a personal pension contribution and benefit from tax relief at your highest marginal rate. Broadly speaking, tax relievable contributions are limited to £3,600 (gross) or 100% of your relevant UK earnings, whichever is higher.

    Pension contributions are also limited by the annual allowance which is currently £60,000 for most people. The annual allowance is reduced for some people with higher earnings or those who have flexibly assessed a pension. This limit applies across all pension schemes, so you’ll need to make sure you look at any contributions made to your HL SIPP this tax year, as well as any contributions to other pension schemes when calculating how much more you can pay in. Higher earners may also be able to carry forward unused allowances from previous tax years.

    To find out more about how much you can pay in, download our factsheet.

    Pension and tax rules can change and benefits depend on your circumstances.

  • How do I make a personal contribution to my SIPP?

    The quickest way to add money to your SIPP is online or with the HL app. Please read the key features (including contribution checklist) first, then:

    1. Log in to your account with the HL app or online
    2. Under 'Actions', choose 'Add money online' or for the app 'Add money'
    3. Follow the instructions to add money with your debit card

    Money in a pension isn’t usually accessible until age 55 (57 in 2028).

Managing your account

  • How do I find my client number or username?

    You’ll find your client number on your most recent statement or the letter we sent to you when you opened your account. You can also find it in the top right-hand corner when you log into your account online.

    If you’ve forgotten your username, you can request a username reminder online. You’ll need your client number and the email address you chose for your account. We won’t be able to provide your username by telephone or post.

  • How do I reset my online password or secure number?

    If you’ve forgotten or locked your login details, you can reset them online.

    We’ll ask you to confirm your username, date of birth and your security questions. You’ll then have the option to reset your Online Password, Secure Number or both.

Transferring a pension

  • What type of pension can I transfer?

    You can transfer most types of pension to the HL SIPP:

    • Personal and stakeholder pensions
    • Pensions in drawdown
    • Retirement Annuity Contracts (RACs)
    • Self-Invested Personal Pensions
    • Most Additional Voluntary Contribution plans (AVCs) including Free Standing AVCs
    • Executive Pension Plans (EPPs)
    • Most paid-up occupational money purchase pensions
    • Old protected-rights pensions accrued from contracting out of the State Second Pension or SERPS (State Earnings Related Pension)

    If you’re part of a defined-benefit (DB) pension, such as a ‘final salary’ scheme, transferring your pension to a personal plan is probably not in your best interest. These pensions not only give you a guaranteed income, they also normally offer benefits to a spouse or partner after you die. You might be able to transfer, but if the transfer value is more than £30,000, you’ll have to take advice from a regulated financial adviser and provide proof that the advice is in favour of transferring.

  • How long will the transfer take?

    If your pension is transferred as cash, this means your provider will sell your pension investments, and transfer the cash amount to your HL SIPP. You will not be invested during the transfer, so you will not make losses or gains. You can buy investments once the transfer is complete. Electronic transfers usually takes 3-4 weeks, and postal 8-10 weeks, depending on your provider.

    If your pension is transferred as it is (invested in the stock market), your provider will transfer each investment and any cash to your HL SIPP. If you hold an investment we do not offer, we’ll contact you during the transfer to confirm your preference. This type of transfer usually takes 6-8 weeks, but can take longer depending on your investments and provider. You stay invested during the transfer, so could make gains and losses. Usually you cannot trade until the transfer completes. Please note, we can only accept online applications of this kind for existing Self-Invested Personal Pensions or Small Self-Administered Schemes. If you hold a different pension, and are eligible to transfer your investments, please contact our helpdesk on 0117 980 9926 for a postal application.

  • What are the charges for transferring to you?

    We don’t charge you to transfer your pension, but you should check with your current provider if they’ll charge you any exit fees, or if you’ll lose any guarantees by transferring. Make sure you do this before you start your transfer.

    View our SIPP charges

  • Can I transfer to you and then take money out of my pension immediately?

    Yes, but normally only if you’re 55 or over. You’ll need to transfer your pension first. Then, once your transfer is complete, you can apply to take money from the HL SIPP.

Guidance, help and advice

Guidance from Money Helper

If you want to make your money and pension choices clearer, get government-backed, impartial guidance from Money Helper.

More about Money Helper

Have a question?

Our UK-based helpdesk are here for you six days a week. Our friendly and knowledgeable team are ready to answer your questions no matter how big or small.

Call us on 0117 980 9926.

Opening hours
Monday - Friday: 8am - 5pm
Saturday: 9.30am - 12.30pm

Financial Advice from HL

Our financial advisers can work with you to:

  • Plan your personal budget and retirement income strategy
  • Make sure your investments match your goals
  • Give pension advice, including when and how to take them

Discover financial advice

Financial Advice from HL

Our financial advisers can work with you to:

  • Plan your personal budget and retirement income strategy
  • Make sure your investments match your goals
  • Give pension advice, including when and how to take them

Discover financial advice