How do I start taking benefits from my SIPP?

You will need to complete the relevant SIPP benefit form SIPP benefit form and return this to us. When we have received your benefit form we will calculate your available tax free lump sum and maximum annual pension. We will aim to pay your chosen lump sum within 5-10 working days.

How do I request an income payment from my SIPP?

To request an income payment from your SIPP, please visit the ‘Manage my SIPP’ area in your account and click on ‘Benefits’ or send us a secure message or an email from your registered email address. If you have requested a one-off payment your funds will be paid to you within 5 working days.

When will I receive the tax reclaim for the contributions paid into my SIPP?

If we receive your SIPP contribution on or before the 5th of the month, we will reclaim the basic rate tax element from HMRC and this will be credited to your account on the 25th of the following month.

For example if a contribution is received on the 1 April the tax reclaim will be added to your account by the 25 May. However if the contribution was received on the 6 April then the tax reclaim will be credited on 25 June.

How can I gift shares to a family member?

If you wish to gift shares to a member of your family, such as the transfer of an investment to your spouse, civil partner or to your children please login to your account and send us a secure message detailing the investment(s) to be transferred and confirming that the transfer is to be treated as a gift. Please note stamp duty is not payable on investments transferred as a gift.

How do I move from capped drawdown to flexi-access drawdown?

If you are taking benefits from your SIPP using capped drawdown (available before 5 April 2015) and want to move to flexi-access drawdown please complete the capped to flexi-access conversion form.

How can I get help on my pension choices at retirement?

You can receive free guidance on your pension options at retirement from the Government backed Pension Wise service. This service is available online, over the phone from The Pensions Advisory Service and face to face from the Citizens Advice Bureau. You can find out more here

What charges will I pay for taking my pension?

The charges for taking your pension are set out in our SIPP charges and rates.

To help you understand how these will apply, here are some examples of different scenarios, please note that all of these charges are subject to VAT:

Can I transfer an existing pension into a SIPP?

Yes, you can transfer most types of pension into a SIPP and we do not charge for the transfer. Please see our transfer to us page for more details.

Before transferring to us please check your investments can be held in an AJ Bell Youinvest SIPP. 

If you are transferring in cash, remember that you will be out of the market while the transfer takes place which means you will not be affected by market rises or falls during this time.