Interactive Investor

Transfer to the ii SIPP and get between £100-£5,000 cashback.

Switch your pension to our low-cost SIPP and you could have thousands more in retirement. Plus, get between £100-£5,000 cashback when you open an ii SIPP before 29 February.

New customers only. Subject to a minimum £10k account value and holding period. Terms apply.

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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.

1

Open an ii SIPP account

It only takes a few minutes.

2

Start your transfer online

You can do this while opening an account - or you can log in and transfer at any time.

3

We will do the rest

We'll work with your current providers and keep you updated.

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.

Before transferring, we 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.

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.

Not sure how to invest in your SIPP?

The ii SIPP Selected Growth Option is an optional low-cost investment that our team of experts has carefully selected to match common goals when investing for retirement. 

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.

*We've crunched the numbers: If you invested in our SIPP, after 30 years you could be better off by £85k. That's more than £1,000 difference a year, just for using us over another platform. Lots of things can affect your final figure. But the lower the fees, the more money you'll keep for yourself. This is just for illustration if all other factors were the same. Don't just take our word for it: check our working out here.

Get your SIPP cashback offer

Open an ii SIPP and fund with at least £10,000 by 29 February 2024. You can do this by requesting a pension transfer or making a contribution. 

No registration is required and multiple transfer requests and contributions count towards your total qualifying transfer amount.

We'll pay your cashback, after 12 months, in one of two ways:

  • Customers on our Pension Builder and Pension Essentials plans will be paid into their nominated bank account.
  • Customers on our Investor Essentials, Investor or Super Investor plans will be paid into their Trading Account.

Terms apply.

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.

We promote transfers to the ii SIPP on a regular basis. It is important that you take enough time to decide whether transferring your pensions is right for you. If you need more time and wish to qualify for an offer, please wait until the next offer period.

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