Important information: A SIPP is for those wanting to make their own investment decisions when saving for retirement. As investment values can go down as well as up, the amount you retire with could be worth less than you invested. Usually, you won’t be able to withdraw your money until age 55 (57 from 2028). Before transferring your pension, check if you’ll be charged any exit fees and make sure you don't lose any valuable benefits such as guaranteed annuity rates, lower protected pension age or matching employer contributions. If you’re unsure about opening a SIPP or transferring your pension(s), please speak to an authorised financial adviser.
Consider transferring your pensions if you want to:
- Access and manage a single pension online
- Pay a simple flat fee that does not increase as your pension grows
- Enjoy full flexibility in retirement with no extra charges when you withdraw your money
- Access a wide range of investments, including funds and stocks chosen by our experts
What is a SIPP?
A Self-Invested Personal Pension (SIPP) is a type of personal pension that gives you more control over your money.
We make investing easy to get started with our low-cost Quick-start Funds - while more confident investors can choose from a wide range of funds and shares.
You can combine your other pensions into one SIPP for simpler retirement planning. Like all pensions, you'll get generous tax benefits every time you contribute.
Why transfer your pension(s) to the ii SIPP?
Our SIPP lets you take control of your retirement. With ii, you can enjoy:
- Greater investment opportunities - an ii Self-Invested Personal Pension (SIPP) lets you choose from one of the widest ranges of UK investments – and broaden your horizons with direct access to US and international markets.
- You are in control - check on your investments any time, anywhere with our secure mobile app.
- Fair, flat fees - there is no percentage fee, so your costs stay the same as your portfolio grows.
- Flexible pension drawdown options
- No fee to transfer in, and it's free to leave.
- We're a Which? Recommended SIPP provider.
Our SIPP charges
- When you open our SIPP you will start on our £5.99 a month Pension Essentials plan.
- When the value of your account grows above £50,000 you will move onto our £12.99 a month Pension Builder plan.
- Existing customers with an ISA and/or Trading Account on our Investor Essentials plan can add a SIPP for an extra £5 a month. You can then invest up to £75,000 across your accounts. Above this you will move onto Investor + SIPP for £21.99 a month.
- You can add a SIPP on our Investor plan for just £10 a month (plus your existing monthly fee).
- There are some other fees for things like foreign currency exchange and Stamp Duty on shares. View our charges page for a full list.
Benefits of our plans
- All our plans allow you to invest as little as £25 a month using our free regular investing service.
- UK and US trades cost only £3.99.
- There are no extra fees for taking money out of your pension through drawdown, lump sum or tax-free cash..
Full terms for our Pension Essentials plan can be found here.
Things to consider before you transfer
Please check that you won’t lose any safeguarded benefits if you transfer. This could include guaranteed annuity rates or lower protected pension age than the Normal Minimum Pension Age (rising from 55 to 57 in 2028).
Please also check any transfer-out fees your current pension provider may charge.
Please note that if you plan to hold both drawdown and non-drawdown pots in your ii SIPP, you cannot allocate specific investments to each pot separately. This means that the value of each pot will change in line with the overall performance of all the investments held in your SIPP.
Before transferring, we recommend seeking advice from a suitably qualified financial advisor or free, impartial pension guidance from MoneyHelper or (if you are 50 or over) Pension Wise.