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Apply for drawdown by post

How it works

If you’re not eligible to apply online, or if you’d prefer not to, you can apply for drawdown through the post in three easy steps.

If you're applying for full or partial drawdown

1.  First you’ll need to call our Pensions Helpdesk on 0117 980 9926. They’ll cover your options for drawdown and complete a set of risk questions with you over the phone. You may have already completed the risk questions online. If certain circumstances change or you don’t choose to proceed with drawdown within six months of completing the risk questions, you’ll need to complete them again. Please note that for each drawdown application you’ll need to complete a new set of risk questions.

2.  Request a personal illustration and application form. The illustration will show you:

  • How your withdrawals could affect how long your pension lasts
  • What different growth rates could mean for your pension value
  • What might be left to pass on to your loved ones
  • How much of your drawdown account will be made up of uninvested cash, or investments similar to cash

The figures are examples only, based on assumptions which are explained in the illustration. What actually happens will depend on your withdrawals and how your investments perform. Income isn't guaranteed. Usually you have to be at least 55 to access your pension (rising to 57 from 2028). If you're younger we can still help you to prepare for retirement, but you won't normally be able to request an illustration or application.

3.  Complete and return the application form. Once we receive your application, it will usually take us 5-10 working days to process. We will:

  • Check any new bank details you’ve given us
  • Move your holdings into your drawdown account
  • Pay your tax-free cash

If you change your mind

If this is your first drawdown application with HL, you have 30 days after your money enters your drawdown account to change your mind. If you want to cancel your application, please send a secure message or write to us at: Hargreaves Lansdown, One College Square South, Anchor Road, Bristol, BS1 5HL.

See other ways to apply

If you’re applying to transfer a drawdown plan or inheriting a SIPP

The steps you’ll need to follow are the same as above except we won’t send your personalised illustration until we’ve received your application telling us what you want to do. This is so we can put together an accurate illustration of what you’ll be holding in drawdown.

If you’re transferring a drawdown plan, we’ll request the transfer on your behalf and let you know once your transfer is complete. You won’t be able to take an income from your pension while the transfer is in progress. Call our Pensions Helpdesk on 0117 980 9926 to get started.

Transferring a pension from another provider

If you're transferring a pension from another provider for drawdown you'll need to do this first. You can transfer online or contact us and we'll send you everything you need.

Transfer online