What charges will I pay for taking my pension?
It depends on how you choose to take income from your SIPP:
|Charge (VAT is payable in addition)|
|Accessing your pension by flexi-access drawdown or pension lump sums||No charge|
|Purchase an annuity||£150|
|Payment of benefits on death or if your pension is to be split/shared as part of a divorce||Time/cost basis. Minimum charge expected to be £250|
|Additional charge for transferring in a pension to your SIPP and then transferring your SIPP to another provider or closing it within 12 months||£295|
Take a look at our charges and rates page for more information.
You can transfer your SIPP to any other UK-registered pension scheme or qualifying recognised overseas pension scheme (QROPS). We’d be very sorry to see you go if you do decide to transfer out, but call us on 0345 54 32 600 and we’ll explain the process to you.