Transfer to the ii SIPP and get £200 cashback.
Switch your pension to our low-cost SIPP and you could have thousands more in retirement. Plus, get £200 cashback before 31 December.
New customers only. Subject to a minimum £15k account value and holding period. Terms apply.
Please remember, SIPPs are aimed at people happy to make their own investment decisions. Investment value can go up or down and you could get back less than you invest. You can normally only access the money from age 55 (57 from 2028). We recommend seeking advice from a suitably qualified financial advisor before making any decisions. Pension and tax rules depend on your circumstances and may change in future.
How to transfer your pension to our SIPP
You will need your National Insurance number and details of the pension(s) you want to transfer.
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.
Useful information about your transfer
- If you are transferring cash from your current pension, and if your current provider uses the Origo service, once you have submitted your transfer online, you will not need to sign and return a transfer form, as the transfer will be arranged electronically. If you hold any investments in your pension, you will need to arrange to sell these with your current provider.
- If you are transferring cash from your current pension, and if your current provider does not use the Origo service, once you have submitted your transfer online, you will need to download, sign and return a transfer form. Your current provider may require you to complete a discharge form. To confirm this, and to request a form, please contact them directly. Once you have completed the form, return to us and we will complete any sections on the ii pension. If you hold any investments in your pension, you will need to arrange to sell these with your current provider.
- If you are transferring the investments in your current pension, including any cash balance, once you have submitted your transfer online, you will need to download, sign and return a transfer form. Your current provider may require you to complete a discharge form. To confirm this, and to request a form, please contact them directly. Once you have completed the form, return to us and we will complete any sections on the ii pension.
- If you have a defined benefit pension, before you transfer we recommend you speak to a financial advisor. If your pension value is £30,000 or more, you are legally required to provide evidence that a financial advisor has confirmed the transfer is in your best interests. You can do this by completing and returning our Financial Advice Declaration form. Your current provider may require you to complete a discharge form. To confirm this, and to request a form, please contact them directly. Once you have completed the form, return to us and we will complete any sections on the ii pension.
- If you want to transfer a pension which is in drawdown, you will need to complete and return the Drawdown investment strategy form. This form helps you plan how to use your drawdown fund and what that might mean for how your SIPP is invested. The form includes Investment Pathways – an initiative introduced by the Financial Conduct Authority to help people entering drawdown, or transferring plans already in drawdown, find investments that meet their needs.
Transfer in FAQs
Why transfer your pension to the ii SIPP?
- Low cost - we charge a low, flat fee. Most providers charge a percentage fee that grows with your pension.
- Convenience - if you transfer your other pensions to our SIPP, you'll be able to see everything in one place, and pay just one monthly fee.
- Choice - we offer one of the the widest choice of investments on the market.
- Flexible retirement options - when you reach 55 (57 from 2028), we provide a range of options for taking an income from your pension. Unlike many other providers, there is no extra charge for this.
- Security - your pension is safe with us. Your money is always kept separate from our own, and we are fully FSCS protected. Over 400,000 people trust us with their pensions and other investments.
Low fees? Yes please.
Save and invest with ii’s Which? recommended SIPP pension from just £5.99 a month.
- Easy to get started - it only takes a few minutes to open an ii SIPP. You can also transfer exiting pensions to us once you open your SIPP.
- Easy to invest - choose from our Quick-start Funds or a wide range of shares and funds.
- Easy to manage - keep track of your pension online or using our easy-to-use app
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.
Full terms for our Pension Essentials plan can be found here.
*Analysis shows you could be better off over 30 years of investing in an ii SIPP due to our low flat fees. This is just for illustration if all other factors were the same. The advantage of lower flat fees over time means that you could be significantly better off in the long run. By how much will always depend on your personal circumstances. More about our analysis
Planning for your future? Get your pension SIPP-shape.
Take control of your future with ii’s Which? Recommended SIPP. Open before 31 December. New customers only. Minimum £15k investment. Capital at risk. Terms apply.
How can Pension Wise help?
If you have a defined contribution pension scheme and are 50 or over, then you can access free, impartial guidance on your pension options by booking a face to face or telephone appointment with Pension Wise, a service from MoneyHelper.
If you are under 50, you can still access free, impartial help and information about your pensions from MoneyHelper.