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Drawdown transfer pack

Important information

  • Drawdown in the HL SIPP is arranged on a non-advisory basis as standard. If you receive advice on your current drawdown plan, this won't continue if you transfer to the HL SIPP unless agreed separately.
  • Drawdown is a more complex option than an annuity, if you're 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.
  • All investments should be held for the long term. They can go down in value as well as up, so you could get back less than you invest. Any yield is variable and not guaranteed.
  • Tax rules can change and the reliefs depend on your personal circumstances.