Transfers

The timescales below are an average. Your transfer time can depend on your portfolio and how quickly your current provider works with us. Some transfers can therefore take much longer.

If you are transferring a defined benefit pension, a Small Self-Administered Scheme (SSAS) pension or an overseas pension scheme, the timeframes shown are not representative. For these schemes, transfers may take considerably longer. 

If you want to trade while your transfer is in progress, most providers will be able to facilitate this as long as your investments aren’t in the process of being re-registered. 

You should contact your current provider to place your trade(s). Don’t forget to keep both them and us updated on the changes to the investments in your account. We can’t be held liable for any missed opportunity if you choose not to trade while your transfer is in flight. 

You may not be able to take an income from your pension during your transfer. For more information on this, you should speak to your current provider. If you think you will need to take benefits within a specific timescale, you are transferring at your own risk and we can’t be liable for any loss.

ISA and general investment account transfers

Cash transfers usually take about four weeks. 

Stock transfers, where you keep your existing investments, usually take about six weeks. 

Pension transfers

Transferring your pension as a cash payment usually takes two to six weeks to complete.

Transferring your existing investments will take longer – typically eight to twelve weeks. 

Please note that time frames are a guide from when you have sent all the forms and information we require. From that point, transfers can take longer depending on the type of investments you hold. 

You will receive updates at key milestones throughout your transfer through email. 

We will contact you by email or secure message if further action is required from you. To view your secure messages, select Account > Secure Messages from your account menu. 

You can also request an update about your transfer’s progress at any time. 

For ISA and trading account transfers, you can request an automated email update. Select Cash & Transfers > Transfer in on your account menu. Then click Transfer Update.  

If you want to request an update about a SIPP transfer, please send us a secure message. 

Send us a secure message about your transfer

If you have a query which is not answered in your progress email, the easiest way to contact us is through secure message. 

To send us a secure message about your transfer: 

• Log into your account and select Account > Secure Messages from the menu.
• Click the Compose button and then My question doesn’t appear in this list. 
• For SIPP transfers, please select transfers – SIPP as the message topic. 
• Compose your message and message title and then click Send. 

Please note that we are currently experiencing a high level of messages and it could take up to five days for us to respond. If you have an urgent enquiry, please call us. 

Trading accounts

Transfer a general investment account to an ii trading account. 

Stocks and Shares ISA

Transfer an existing Stocks and Shares ISA to us. 

You can keep your existing investments or sell them and make a cash transfer. Transferring does not affect your yearly ISA allowance. 

You can make a partial transfer of a Stocks and Shares ISA, but only if it is from a previous tax year. This is because you can only open one Stocks and Shares ISA per year. 

Cash ISAs

Transfer a Cash ISA into an ii Stocks and Shares ISA. 

Lifetime ISAs

If you transfer your Lifetime ISA into an ii Stocks & Shares ISA, the transfer will be subject to the 25% government withdrawal charge.

Junior ISAs

When transferring a Junior ISA to us, you can keep your existing investments or sell them and make a cash transfer. 

We cannot accept partial Junior ISA transfers.

Child Trust Funds

You can also transfer Child Trust Funds (CTFs) to our Junior ISA. Please note that once transferred, you cannot transfer back into a CTF. 

Pensions

You can transfer most types of pension to the ii SIPP – including: 

• Personal Pension Plans
• Pensions in drawdown
• Other SIPPs
• Executive Pension Plans
• Defined Benefit Occupational Pension Schemes
• Free Standing Additional Voluntary Contributions (FSAVCs)
• Small Self-Administered Schemes (SASS)
• Stakeholder pension plans
• Occupational Money Purchase Schemes
• Retirement Annuity Plans
• Recognised Overseas Pension schemes which are QROPS listed

Check with your current provider if you are not sure whether you can transfer your pension to a SIPP. 

Please note that you could lose safeguarded benefits when transferring certain types of pension. 

For example, defined benefit pensions or pensions with benefits such as guaranteed annuity rates or the option to take more than 25% as tax-free cash.  

When transferring schemes worth £30,000 or more that have safeguarded benefits, you must provide proof of advice from a suitably qualified independent adviser that the transfer is in your best interest. Even if the value is less than £30,000, we recommend speaking to a financial advisor before transferring.

If you are transferring from a hybrid scheme (a scheme with defined benefit and defined contribution elements) worth £30,000 or more, we still require confirmation that the transfer is in your best interests. This applies even if the safeguarded benefits portion of the hybrid scheme is only worth a fraction of the total value.

We do not charge fees to transfer investments in or out. However, your current provider might.

Check for exit fees before you transfer.