Pension Trading Account
Our Pension Trading Account Service is now closed. You will need to make arrangements for the cash and assets in your account to be transferred to another provider or returned to your main pension.
Why has the service been closed?
Following a review of our service offering, we have decided to withdraw products offered via third parties due to the high operating costs. We will instead focus on our core SIPP, ISA and Trading accounts, which are offered directly to customers.
How can I access my account?
If you have a query about your account, or you wish to place a trade to sell one of your holdings, you will now need to call us on 0345 607 6001. Our lines are open from 7.45am until 5.30pm, Monday to Friday for customer service and UK trading, and until 9pm for international trading.
When did the PTA product close?Â
The PTA product service was reduced in stages from 31 January 2024, when remaining accounts were restricted to sales-only dealing. This was followed by the removal of online access to accounts on 30 April.
Remaining accounts have only an extremely limited service available and should be closed or transferred as soon as possible.Â
All account administration fees, and the additional Administration fee, will continue to be charged while accounts remain open.
Key dates
| Date | Event |
|---|---|
31 January 2024 | Pension Trading Accounts restricted to sales-only dealing. |
30 April 2024 | Online access to Pension Trading Accounts was removed. |
12 July 2024 | The additional administration fee charged for PTA accounts will increase from £30 to £50 per month. |
What are my options?
As part of our service, we will facilitate any combination of the options show below.
Your options will need to be carefully considered and will depend upon your individual circumstances. We recommend that you discuss your options with your Pension Provider and an authorised Financial Advisor.
Transfer stock held in your Pension Trading Account to another provider
You can transfer the assets in your Pension Trading Account to another platform, if one is made available by your pension provider. Please speak to your pension provider to discuss what options may be possible.
The monthly Subscription Plan fee and the additional Administration fee are not charged during a transfer to another provider.
We will begin to waive fees as soon as we receive a signed transfer-out from your pension provider, authorising us to begin the transfer.
Withdraw cash from your Pension Trading Account to your main pension
Your pension provider can request a withdrawal of the cash value of your PTA back to your main pension. Please note that you will need to sell any assets in order for their value to be withdrawn as cash. If you do not wish to sell the assets, they will need to be transferred to another platform as per option 1 (above).
Is there an option to keep PTA assets on the ii platform?
Yes. Assets currently held within your PTA can be transferred to an ii SIPP, along with all or part of your current pension.
Please visit ii.co.uk/pta-transfer for details of how to open an ii SIPP and begin a transfer.
As with the options above, how suitable this is depends upon your individual circumstances and we recommend that you discuss this with your Pension Provider and an authorised Financial Advisor. More information about the ii SIPP can be found here.