Interactive Investor

Things to consider before you transfer

If you are thinking about transferring to another provider, please the read the information in our pension scams information booklet and on the FCA ScamSmart website

We also 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.

How long will the transfer take?

Transferring your pension as a cash payment usually takes 2 to 6 weeks to complete. If you’d like to transfer out your existing investments then the transfer will take longer - typically 8 to 12 weeks, depending on the type of investments you hold. 

For cash transfers, your investments must be sold before making the transfer.

If you are transferring your SIPP to a Qualifying Recognised Overseas Pension Scheme (QROPS), there are additional rules that apply to these schemes and this means significant due diligence checks can be required before the transfer will be agreed to. The checks are undertaken because a transfer to a non-UK pension scheme that doesn’t meet the rules for a QROPS carries significant tax consequences for both us and you. The checks mean a transfer to a QROPS will take longer than to a UK pension scheme.

Can I trade during the transfer?

Trading whilst your transfer is in progress could increase the time the transfer takes to complete.

If you want to trade while your transfer is in progress, we will try to facilitate this as long as your investments aren’t in the process of being re-registered. 

Please contact us if you have placed any trades. Don’t forget to keep both us and your new provider updated on the changes to the investments in your account. We can’t be held liable for any missed opportunity if you choose not to trade while your transfer is in flight. 

Please remove your dividend reinvestment and regular investment preferences if you are transferring out investments and cancel any pending limit orders which may affect your transfer.

Can I take benefits from my SIPP during the transfer?

You may not be able to take benefits from your pension during your transfer. For more information on this, please contact us. If you think you will need to take benefits within a specific timescale, you are transferring at your own risk and we can’t be liable for any loss. 

How to transfer your ii SIPP to another provider

The first thing you should do if you want to transfer your ii SIPP is to contact your new provider. They'll advise you on what you need to do next.


The next steps you need to take depend on the type of scheme you are transferring to.

  • If you are transferring to a: Self-Invested Personal Pension (SIPP), Personal Pension, Stakeholder Pension, Public Service Pension Scheme, Master Trust Scheme, Collective Money Purchase Scheme, Deferred Annuity or Section 32 Buy Out, please click here.

  • If you are transferring to a Small Self-Administered Scheme (SSAS) or an Occupational Pension Scheme, please click here

  • If you are transferring to a Qualifying Recognised Overseas Pension Scheme (QROPS), please click here

Transfer out FAQs