What type of pension transfers are allowed through the Fair Investment SIPP Service?
The following pension plans can normally be transferred without speaking to a financial adviser:
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Personal Pension Plans (PPPs)
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Stakeholder Pension Plans (SHPs)
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Retirement Annuity Contracts
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Another Self Invested Personal Pension (SIPP)
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Group Personal Pension Plans (GPPs)
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Free standing additional voluntary contribution plans (FSAVCs)
Before transferring an existing pension you should check whether any tax benefits you currently receive will be adversely affected or you will incur any charges or lose guarantees.
Why transfer?
We can offer up to 100 per cent discount on initial investment charges and a simple, transparent charging structure for the service’s annual fees.
You can control all of your investments in one place
Wide investment choice, including passive funds and structured investments, as well as a diverse range of investment funds
What’s the process?
Pension transfers typically take between four and eight weeks from receipt of the application form, available in the SIPP Service application pack.
Please request the SIPP Service guide for more information about pension transfers.
There are many reasons why you may wish to transfer your current pension scheme whether it be change of employment, poor performance, issues over the security of the pension scheme, divorce, or a need to improve flexibility.
There are many issues to consider before transferring from one scheme to another and we recommend that you seek professional advice in what can be a highly complex area.