Transferring your pensions to a Freetrade self-invested personal pension (SIPP) is simple. What you need to do:
If you haven't already, open your Freetrade account
Upgrade to a Plus plan and open your SIPP
Submit your transfer request
There is some information you will need to have to hand to complete the form.
Pension provider’s name
Pension provider’s address (many providers have multiple addresses, so we need to capture the right one)
Pension plan reference
Whether you want to do a full or partial transfer
Amount to be transferred in cash
When transferring investments, then you'll need to provide a full list of investments
SIPPs are available as part of the Plus plan (costing £11.99/mo paid monthly, or £9.99/mo billed annually). You can compare our plans here.
Important information
SIPP eligibility and tax rules apply. US dividends received into your SIPP may be subject to US withholding tax. Pensions that are transferred to the Freetrade SIPP may lose the protected pension age benefit. This means that you will not be able to draw the monies from the Freetrade SIPP until you are aged 57. Please ensure you know what this means for you and the effect it may have on you and your savings.
Check before you transfer a pension to us that we can accept your investments, you won’t lose any guarantees, and that you know what charges you may incur. Seek advice if you are unsure about making a transfer.
A SIPP is a pension designed for you to save until your retirement and is for people who want to make their own investment decisions. You can normally only draw your pension from age 55 (57 from 2028), except in special circumstances.
At present, Freetrade only supports Uncrystallised Fund Pension Lump Sums (UFPLS) for customers who wish to withdraw funds from their SIPP after their 55th birthday. We strongly encourage you to seek financial advice before making any withdrawals from your SIPP.