Interactive Investor

Moving further funds into capped drawdown

Capped drawdown is only available if you have already moved funds into capped drawdown. Since 6 April 2015, the option to enter capped drawdown has been unavailable to new retirees. You can have a mix of capped and flexi-access drawdown funds in your SIPP.

You can move further funds into capped drawdown by completing and returning a taking capped drawdown benefits form. This includes the option to take up to 25% as a tax-free lump sum payment (PCLS) and take a taxable income from the rest.

The easiest way to return your form is via secure message using your online account. Please note this usually takes between 4 and 8 weeks to process.

How to move further funds into capped drawdown

  1. Download a taking capped drawdown benefits form
    You can type directly into the text boxes. Alternatively, you can print the form and fill it in by hand. 
  2. Read through the important information on the first page of the form.
  3. Complete Section 1 by entering your account details.
  4. Complete Section 2
  5. Send your completed form to us. 
    The quickest and easiest way to send your form to us is via secure message in your online account. Alternatively, you can return it by post to: Product Admin, interactive investor, 2nd floor, One Embankment, Neville Street, Leeds, LS1 4DW.