Transfer to the ii Personal Pension (SIPP)
Switch and save with the ii Personal Pension
Lower costs, more control and flexible retirement options. That's why, each year, thousands of people transfer their pensions to our four-time Which? Recommended Personal Pension (SIPP).
Important information: The ii SIPP is for people who want to make their own decisions when investing for retirement. As investment values can go down as well as up, you may end up with a retirement fund that’s worth less than what 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.
Get up to £2,000 when you switch to our SIPP
Reap the rewards of switching up your retirement savings this summer. You could keep more money for your future with our low, flat-fee Personal pension (SIPP) and enjoy a cashback boost for now.
Get your £100 to £2,000 cashback when you open a SIPP and deposit or transfer a minimum of £10,000. More details on how the offer works.
Offer ends 31 July 2025. Subject to 12 month holding period. Terms and fees apply.
Important information: It’s important to take your time before transferring your pension. Make sure to consider what the best option is for you. Don’t transfer just to qualify for the offer, and don't rush any decision to meet the offer deadline. We periodically run offers, and there will likely be other opportunities in the future.
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.
The benefits of transferring to an ii Personal Pension
Lower pension charges
When you switch to ii, you could save on pension fees. Many providers charge a percentage of your pot, so fees increase as your investments grow. With ii, you pay a low, flat monthly fee - helping you keep more of what’s rightfully yours.
Invest with more choice
With the ii Personal Pension, you’re in control of how much you save, and how you invest and manage your retirement savings. If you’re not sure where to begin, you can take advantage of our ready-made Quick-start funds and expert picks.
Retire on your terms
You can take income from the ii Personal Pension without any additional charges. Access flexible retirement options including tax-free cash, income drawdown, lump sums, or a combination that best suits your needs.
What are the charges for an ii Personal Pension?
Most providers charge a percentage fee, meaning you’ll pay more in charges as your investments grow.
With ii, you pay a low, flat monthly fee - helping you reach your retirement goals sooner. And you pay no extra charge when you get round to withdrawing your pension.
Other charges, such as trading fees and FX fees, apply. View our charges to learn more.
Monthly fee for an ii Personal Pension
| Account value | Monthly fee | Plan |
|---|---|---|
| Up to £50,000 | £5.99 | Pension Essentials |
| Any value | £12.99 | Pension Builder |
A pension provider you can trust
The ii Personal Pension has been Which? Recommended for the fourth year in a row for its industry-leading choice, support and value.
Join thousands making the switch to ii. Many have transferred from other leading companies such as Aviva, Standard Life and Hargreaves Lansdown.
How to transfer to the ii Personal Pension (SIPP)
How to transfer to the ii Personal Pension (SIPP)
Once you've decided a transfer is right for you, you can apply online for your ii SIPP and get set up in less than 15 minutes. Our award-winning customer support team is here to help if you need it.
Also, you won’t be charged until you add or transfer money to your ii account.
You can start your transfer when you open your SIPP – or do it later by logging in to your account on our website.
You’ll need to tell us a few important details about your pension to start the transfer.
If you want to transfer more pensions in the future, you can do so with ease at any time.
Once your transfer details are in, it’s time for you to sit back and relax. We’ll work with your current provider to move your pension to ii.
If we need any more information from you, we’ll be in touch. We’ll provide regular updates as your transfer progresses.
Before you transfer your pension
Transferring a pension to ii can be a great choice for many reasons. It can save you money, improve your investment options and give you greater flexibility at retirement. But there are some important things to check and consider before you make your move.
Check 1: Will it cost you anything to transfer?
It’s always free to transfer with ii from our side. But be sure to check if your current provider charges any exit fees or penalties.
Check 2: Will you lose any benefits if you transfer?
Some pensions have special guarantees and benefits. Before transferring, make sure you won't lose any of the following:
- Guaranteed annuity rates
- Lower protected pension age
- Matching employer contributions
Check 3: Should you take pension advice before transferring?
If you’re unsure about transferring your pension(s), please speak to an authorised financial adviser who specialises in pensions.
Have a question about the ii SIPP? We can help.
Call our award-winning UK-based support team on 0345 646 2390.
You can reach one of our friendly SIPP specialists between 8am-4.30pm, Monday to Friday.
Transferring a pension FAQs
You can transfer most types of pension to the ii SIPP, including:
- Personal pension plans
- Pensions in drawdown
- Other SIPPs
- Executive pension plans
- Defined benefit occupational pension schemes
- Free Standing Additional Voluntary Contributions (FSAVCs)
- Small Self-Administered Schemes (SASS)
- Stakeholder pension plans
- Occupational money purchase schemes
- Retirement annuity plans
- Workplace pension
Please note, If you’re still paying into the workplace pension you want to transfer, you should check that your employer can make contributions to a SIPP instead. Read our guide on workplace pension transfers.
If you're not sure whether you can transfer your pension to a SIPP, check with your current provider.
Yes, as long as your current provider allows it and you haven't yet taken any retirement income, you can usually transfer part of your pension to the ii SIPP.
If you have accessed your pension, and it’s in drawdown, you will only be able to transfer it in full to the ii SIPP.
Transferring your pension as cash
A pension which is transferred to us entirely as cash usually takes 2 to 6 weeks to complete. You will need to sell any investments before you transfer your pension as cash.
Transferring your pension’s investments
If you are transferring another SIPP to us, you may be able to transfer your investments as they are. Transferring investments typically takes 8 to 12 weeks, depending on the investments.
Not all investments can be transferred to our SIPP. If we offer the investments you hold, you should be able to transfer them.
Transferring a Defined Benefit or SSAS pension
If you’re transferring a Defined Benefit pension or a Small Self-Administered Scheme (SSAS), there are additional steps to complete. This means that the transfer process can take longer than for other types of pensions.
General timings information
All timings depend on how quickly your current provider works with us to arrange your transfer, and whether they use the electronic transfer service, Origo.
During the transfer process, your ii case handler will keep you updated with regular progress emails. If you ever need to contact us about the progress of your transfer, the easiest way to do this is to log in to your account and send us a secure message.
How can Pension Wise help?
If you’re thinking about retiring soon and want to understand your options, make sure you speak to someone at Pension Wise.
Pension Wise is part of the government’s Money Helper service, offering free and impartial pension guidance to the over-50s. They can also help you decide if transferring your pension is the right choice for you.
