Interactive Investor

ii SIPP - useful forms and documents

All forms and documents apply to ii SIPP accounts unless stated otherwise.

ii-accounts-sipp-inheritance-tax

Before you start: how to return your forms

  • The easiest way to send PDF or paper forms is by secure message - find out how.
  • Forms sent to us by post may take longer to process.

Login to your secure SIPP administration page to review beneficiaries or set up your Expression of Wishes. 

Please be aware that in the current exceptional circumstances, some services may need more time to process. If you can, please choose digital services over paper forms or phone. We appreciate your understanding.

The ii SIPP is aimed at clients who have sufficient knowledge and experience of investing to make their own investment decisions and want to actively manage their investments. A SIPP is not suitable for every investor. Other types of pensions may be more appropriate. The value of investments made within a SIPP can fall as well as rise and you may end up with a fund at retirement that’s worth less than you invested. You can normally only access the money from age 55 (age 57 from 2028). Prior to making any decision about the suitability of a SIPP, or transferring any existing pension plan(s) into a SIPP we recommend that you seek the advice of a suitably qualified financial adviser. Please note the tax treatment of these products depends on the individual circumstances of each customer and may be subject to change in future.

Making cash contributions

The quickest and easiest way to make personal contributions is via your online account. You do not need a contribution form for the following:

  • Direct Debit (monthly): log in and select ‘direct debit’ from the ‘cash & transfers’ menu.
  • Debit card (one-off): log in and select 'add cash' from the 'cash & transfers' menu. 
  • Internal transfer (one-off and regular, monthly): log in and select 'withdraw/transfer cash' from the 'cash & transfers' menu. Choose the 'Internal Transfer' option and follow the instructions.

Please complete an ii SIPP Contribution Form to: 

  • Make a personal contribution by bank transfer
  • Arrange contributions from your employer or another person

Transferring existing pensions

Simply log into your account and use our online SIPP Transfer process when you want to bring other pensions together in your account.

Not yet a customer? You can transfer a pension when you open an account.

  • For transfers of pensions with defined or safeguard benefits of £30,000 or more (such as a 'final salary' pension) you will also need to take independent advice that confirms the transfer is in your best interests and you and your adviser will need to complete a SIPP Financial Advice Declaration Form. Where the transferring value is less than £30,000 we will normally accept it without advice where the value represents no more than 10% of the value of your SIPP. If in doubt, please contact us before starting your transfer.
  • If you are considering transferring an overseas pension to your ii SIPP, please contact us with details beforehand and we will confirm whether or not we can accept it.

Investing for drawdown

If you are transferring in a SIPP that contains crystallised funds, i.e. one that is already in drawdown, you’ll need to complete and return an 'Investing for drawdown' form.

Paying for advice

This form should be used when fees for regulated financial advice are to be paid from your ii SIPP. Please complete this form to authorise an advice fee and to confirm the type of fee being paid.

Taking income from your SIPP

Before you start: If you need to send us PDF or paper forms, the easiest way is by secure message from your online account. Find out how.


Move your SIPP into flexi-access drawdown

You can move all or part of your SIPP into flexi-access drawdown. This includes taking up to 25% as a tax-free lump sum payment and taking a taxable income from the rest.

You will need to do this every time you want to move part of your SIPP into drawdown.

  • The easiest way to move all or part of your SIPP into flexi-access drawdown is via your online account. This should take around 30 minutes to complete and no more than 10 working days to process
  • If you prefer, you can complete and return a Taking Pension Benefits form. Please note this usually takes between 4 and 8 weeks to process.

Learn more about flexi-access drawdown.


Start taking / amend your income from a flexi-access drawdown SIPP

If you have already moved some or all of your SIPP into flexi-access drawdown, you can start taking a taxable regular income or take a single taxable payment from those funds. 

You can also amend your existing regular income payments.

  • To start taking or to amend income payments from your existing flexi-access drawdown fund, you need to complete and return a start or amend flexi-access drawdown payments form. Please note this usually takes between 4 and 8 weeks to process.
  • The option to do this using your online account is coming soon.

Take lump sums (UFPLS) from your SIPP 

If you have funds in your SIPP that have not been moved into drawdown (flexi access or capped), you can request to take a one off taxed lump sum (UFPLS). 

You will need to do this every time you want to take a lump sum.

  • The easiest way to request an UFPLS lump sum is via your online account. This should take around 30 minutes to complete and no more than 10 working days to process
  • If you prefer, you can complete and return a Taking Pension Benefits form. Please note this usually takes between 4 and 8 weeks to process.

Learn more about UFPLS


Capped drawdown

Capped drawdown is only available if you have already moved funds into capped drawdown. You can have a mix of capped and flexi-access drawdown funds in your SIPP.

Learn more about capped drawdown


Move further funds into capped drawdown

If you have already entered capped drawdown, you can move further funds into your existing capped drawdown pot. This includes taking up to 25% as a tax-free lump sum payment (PCLS) and taking a taxable income from the rest.


Start taking / amend your income from a capped drawdown SIPP

If you have already moved some or all of your SIPP into capped drawdown, you can start taking a taxable regular income or take a single taxable payment from those funds. 

You can also amend your existing capped drawdown regular income payments.


Convert your existing capped drawdown pot into flexi-access drawdown

If you have funds in your SIPP that are in capped drawdown, you can move those funds into flexi-access drawdown. 

  • To convert your capped drawdown funds into flexi access drawdown, complete and return a Taking Pension Benefits (capped) form. Please note this usually takes between 4 and 8 weeks to process.

Take a 'small pots' lump sum

If you have a small pension fund worth up to £10,000, you can take this as a small pots lump sum. This does not affect your Lifetime Allowance. You can repeat this up to three times during your lifetime.

  • To request a small pots lump sum, you can complete and return a Taking Pension Benefits form. Please note this usually takes between 4 and 8 weeks to process.

Take money to buy an annuity 

We don't offer an annuity directly, but you can take money from your SIPP to buy one with another provider.