Can I transfer an existing pension into a SIPP?
You can transfer most types of UK pensions, including occupational pensions, into an AJ Bell SIPP free of charge. But before transferring a pension to us, it's important to consider the following:
- Can the investments in your pension be held in an AJ Bell SIPP? You should check what you can transfer to us beforehand.
- If you sell your investments so you can transfer in cash, you'll be out of the market while the transfer takes place. That means you won't be affected by any rises or falls.
- If you’re transferring a different type of pension scheme into a SIPP – such as an occupational pension – you may lose valuable benefits. We suggest you seek professional advice to ensure that transferring is right for you.
- If you know your life expectancy is two years, transferring a pension may make it subject to inheritance tax. Please take financial advice if you think this might apply to you.
Ready to transfer? To begin, you’ll need to open a SIPP with us if you don’t have one already. This takes less than ten minutes to do online. During the application, you’ll be able to enter the details of the pension(s) you want to transfer. If you already have a SIPP, you can start the transfer process here.
Once we’ve received the details we need, we’ll handle the rest of the admin from there. To check the progress of your transfer, just return to the 'Transfers' page to see its current status. We’ll be in touch if we need any additional information.
If you'd like financial advice, you can search for a suitably qualified adviser on websites including: