For transferring cash or investments from an existing pension into a SIPP the length of time that it takes for funds to be transferred will depend on the existing provider. SIPP providers generally want the transfer to happen as quickly as possible.
Most SIPP providers once you’ve given them details of the pension account you want to transfer, will take it from there and let you know if there are any issues. How long the transfer will take depends on:
How quickly your current pension provider gets back to your SIPP provider
Receipt of the transfer paperwork, and whether it’s been correctly completed by your existing provider
Whether you need to pay any outstanding fees or costs to your current provider
To provide a general indication of timeframes for different asset classes see our table below:
Type of Investment:
Time Taken To Transfer:
Cash only
2 to 4 weeks
Shares
4 to 6 weeks
Funds
6 to 8 weeks
International Shares
10 to 12 weeks
If you’re transferring an account with both cash and investments, your investments will transfer over first, then your cash afterwards.
For selected SIPP Providers who accept pension transfers in see below:
Invest From:
£25 pm
Investment Options:
Thousands of funds to choose from; Select 50 – Browse a list of expert picks. Pathfinder – Risk profiled fund options. Investment Finder – Search 1000s of investment ideas.
Admin Charges:
£45 up to £7,500 a year or 0.35% via monthly regular saving plan. £7,500 – £250k: 0.35% £250k – £1m: 0.2% £1m +: free
Why we like it: The Fidelity SIPP offers low cost pricing with an extensive range of investment options with user friendly selection tools as well as planning calculators and retirement guidance. If you are transferring from an existing SIPP they will cover up to £500 of transfer out fees. Fidelity with over $300 billion of assets, are one of the largest money managers in the world. With investments, your capital is at risk.
More information on this product
Expert guidance to help you invest your savings
One low cost service fee – typical fee is just 0.35%* – ongoing fund charges also apply
24/7 access via online Account Management system
Great service – from UK-based phones team through to investment guidance on our website
A regular savings plan from as little as £25 per month, or invest from £800 single
Why we like it: Award winning pension provider, HL are a FTSE 100 Company and the UKs biggest SIPP provider which is testimony to the service they offer their 1m+ clients. With no setup or transfer in charges, and no charges to buy or sell funds, Hargreaves Lansdown offer a flexible SIPP where you invest as little as £25 pm. With investments, your capital is at risk.
More information on this provider
No SIPP set-up, transfer-in or fund-dealing fees. Online share dealing at £11.95 per deal, or as low as £5.95 per deal for active traders with a low annual charge to hold shares of just 0.45% (capped at £200 per annum)
FREE research on popular investments
Free mobile app to deal shares, access prices, indices, news and research.
Voted Best SIPP Provider seven years running
Up to 45% tax relief on your contributions
A 25% tax-free lump sum. You can normally take up to a quarter of your SIPP without having to pay tax, after you’ve reached the age of 55
SIPPs are a type of pension for people happy to make their own investment decisions
Investments go down in value as well as up so you could get back less than you invest
You can normally only access the money from age 55.
Tax reliefs depend on your circumstances and the rules could change in the future
If you’re unsure about the suitability, we recommend you ask for independent advice
Hargreaves Lansdown Self Invested Personal Pension
Take control of your pension!
No SIPP set-up, transfer-in or fund-dealing fees. Online share dealing at £11.95 per deal, or as low as £5.95 per deal for active traders with a low annual charge to hold shares of just 0.45% (capped at £200 per annum)
FREE research on popular investments
Free mobile app to deal shares, access prices, indices, news and research.
Voted Best SIPP Provider seven years running
Up to 45% tax relief on your contributions
A 25% tax-free lump sum. You can normally take up to a quarter of your SIPP without having to pay tax, after you’ve reached the age of 55
Special offer: Open a SIPP today and pay no fee for your first 6 months. Terms apply. Capital at risk.
Why we like it: A new, straightforward way to build your pension has arrived. Open an ii SIPP for just £12.99 a month. Capital at risk.
More information on this product
Open an ii SIPP with a lump sum, invest monthly or transfer pensions held with other providers
Apply for an ii SIPP on your desktop, tablet or mobile in just a few minutes
The widest choice of investment in the market: over 40,000 UK and global stocks including shares, funds, ETFs, investment trusts and more
Hold and trade up to 9 currencies, including sterling, US dollars and euros, to help you manage currency exchanges (FX)
Quickly fund your ii SIPP and access your portfolio anytime, anywhere with our mobile apps
Trading costs: £7.99 for UK shares and ETFs, funds, investment trusts and US shares
Flat fee of £12.99 a month
Customers can upgrade to also have an ISA, trading account, as many free Junior ISAs as they have children, and one free trade a month, for just £7 per month extra
SIPPs are a type of pension for people happy to make their own investment decisions
Investments go down in value as well as up so you could get back less than you invest
25% tax-free lump sum. You can normally take up to a quarter of your SIPP without having to pay tax, after you’ve reached the age of 55
Tax reliefs depend on your circumstances and the rules could change in the future
If you’re unsure about the suitability, we recommend you ask for independent advice
With investments your capital is at risk
Invest From:
£25 pm
Investment Options:
A wide choice of investments, including over 2,000 funds, shares from 25 markets, ETFs, investment trusts and more
Why we like it: There are no charges to set up their SIPP and if you are moving an existing SIPP to them there are no transfer in charges. With AJ Bell you can deal from as little as £1.50, and you will never pay more than £9.95 per online deal. With investments, your capital is at risk.
More information on this provider
Which? Recommended Investment Platform 2019, 2020 and 2021
Low charges – buy funds from £1.50 and shares for as little as £9.95
A regular investment service – invest as little as £25 a month for a lower dealing charge of just £1.50
Free access to Shares Magazine, the UK’s leading online resource for private investors, by maintaining an account balance of over £4,000
0.25% shares custody charge (maximum £10 per month)
Capital at risk
Special Offer:
Its a good idea to check whether your current provider will charge you for transferring out. AJ Bell will pay you up to £500 to cover your exit fees when you move an account worth £20,000 or more. See transfer offer for more info.
Important Risk Information:
This website contains information only and does not constitute advice or a personal recommendation in any way whatsoever. The value of investments and income from them can fall as well as rise and you may not get back the full amount invested. The tax efficiency of pensions is based on current tax law and there is no guarantee that tax rules will stay the same in the future.
Different types of investment carry different levels of risk and may not be suitable for all investors. Prior to making any decision to invest, you should ensure that you are familiar with the risks associated with a particular investment and should read the product literature. If you are in any doubt as to the suitability of a particular investment, both in respect of its objectives and its risk profile, you should seek independent financial advice.
* Details of how the Financial Services Compensation Scheme applies to investment firms can be found at fscs.org.uk.