Can I transfer my SIPP to another pension provider?

You can transfer your SIPP to any other UK-registered pension scheme or qualifying recognised overseas pension scheme (QROPS). We’d be very sorry to see you go. If you want to transfer your SIPP to another provider at any time, please call us on 0345 54 32 600 and we’ll explain the process.

What to consider

If you've already accessed your SIPP, the part of it you've accessed must be transferred in full to the new pension scheme. If part of your SIPP hasn't been accessed, you can choose how much of that part you want to transfer.

You can choose to transfer your SIPP in cash, by selling investments first, or to transfer your investments as they are. If you are transferring a QROPS, it will need to be checked against your remaining lifetime allowance in case a tax charge applies.

How long will it take?

Pension transfer rules are in place to reduce the risk of customers falling victim to pension scams. These rules require trustees and administrators of pension schemes (including AJ Bell) to carefully consider requests to transfer to another scheme.

In most cases, these rules won’t delay your pension transfer. But sometimes, we may need further information. You’ll be asked to supply this information yourself and we may also need information from the trustees or administrators of the scheme you’re looking to transfer into. We’ll be in touch to confirm if we need information from you.

In some circumstances, you may need to take guidance on the transfer from the Government’s MoneyHelper service. In rare circumstances, the rules could mean that the transfer won’t be able to go ahead.

We’ll work closely with other providers to ensure that your transfer is processed as quickly as possible. Please remember that it may take longer than expected if we require extra information along the way.

Take a look at our before-you-transfer checklist.