ii launches SIPP cashback offer for up to £3,000

interactive investor is offering customers up to £3,000 for transferring into its great value, award-winning pension in July.

interactive investor, the UK’s second-largest investment platform for private investors, is offering customers up to £3,000 for transferring into its great value, award-winning pension in the month of July. Terms and conditions apply. 

The offer begins at £100 cashback for those who transfer the minimum qualifying amount of £10,000. 

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The cashback then scales up with the amount transferred, with £200 cashback on pension pots between £25,000 and £199,000 and a tempting £750 on assets between £200,000 and £499,000. 

Cashback on assets between £500,000 to £1 million is a generous £1,500, increasing to £3,000 on pots over £1 million. 

This offer is a great incentive for people either thinking about setting up a pension or consolidating pensions and bringing them under one roof with a fantastic value pension. 

Many people end up with multiple pension pots spread across different providers and combining them saves on stressful admin and makes retirement planning a lot easier, while helping to control costs. 

interactive investor’s award-winning, great value flat fee pension is a great way of making sure that more of your money works for you, not your pension provider.

The offer applies to both new customers, and current ii customers who do not have a pension with ii. It does not apply to investments already held in an ii account.

Alice Guy, Head of Pensions and Savings, interactive investor, says: “This is a great offer for a great value pension. Pension charges can really add up in the long run, and our flat fee can mean more of your money is working for you, not your provider.  When life gets busy, retirement planning often falls to the bottom of the to-do-list. But taking a little time to give your pension some TLC, could pay dividends in the long run. 

“Consolidating your pension makes it easier to keep an eye on your retirement savings and make decisions in the run up to retirement. Many of us end up with multiple pension pots built up over our working life and bringing them under one roof could save valuable admin time as well as fees.

“The scaled benefits of our cashback offer mean that the more you transfer, the more cashback you receive. It’s a great incentive to get digging in that filing cabinet, find all those old pension documents and getting transferring. It’s also a great incentive for people setting up a new pension.

“The amazing magic of pension savings means that even modest pension investors can add up to a large pension pot, especially with added pension tax relief on top. Saving £200 per month for 40 years, which increases to £250 after pension tax relief could add up to an amazing £381,505 after 40 years, assuming average 5% investment growth.

“Our cashback offer gives new customers an extra boost to help them get just that little bit closer to their retirement goal.”

SIPP cashback offer:

The offer will continue until 31 July 2023 and only applies to SIPPs. It adds to a £50 trading credit  offer ii currently has running for new Trading Accountand ISA customers throughout the rest of July.