We aim to complete your pension transfer within eight weeks.
Transfer times can vary depending on a number of factors, such as whether or not your current provider processes transfers electronically (manual transfers can take longer), and turnaround on due diligence checks.
We will work hard to complete your transfer as quickly as possible, and will provide you with updates as the transfer progresses.
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
Important information
SIPP eligibility and tax rules apply. 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.