How to transfer your ii SIPP to another provider

Q: What questions might my new provider ask?

Here are some things your new provider may want to know: What is the SIPP scheme name? The Investor SIPP What is the SIPP pension scheme reference number? 0083 5804 RJ Is the SIPP a registered pension scheme under the Finance Act 2004? Yes Who is the scheme provider? Interactive Investor Services Ltd What is the address of the scheme provider? 2nd floor, One Embankment, Neville Street, Leeds, LS1 4DW Who is the scheme's authorised practitioner/administrator? BW SIPP LLP What is the address of the scheme administrator? 163 West George St, Glasgow, G2 2JJ Who is the scheme trustee? Investor SIPP Trustees Ltd (company no. 10670459) I’m selling the investments in my SIPP and transferring cash to a provider using the Origo service – what is your Origo provider name that I give to my new provider? ii SIPP

Things to consider before you transfer

If you are thinking about transferring to another provider, please read the pension scams information on our Security Hub.

We also recommend seeking advice from a suitably qualified financial advisor or free, impartial pension guidance from MoneyHelper or (if you are 50 or over) Pension Wise.

The following instructions are for transfers to a:

Self-Invested Personal Pension (SIPP)
Personal Pension
Stakeholder Pension
Public Service Pension Scheme
Master Trust Scheme
Collective Money Purchase Scheme
Annuity Provider

You will need to follow separate instructions to transfer to a Small Self-Administered Scheme (SSAS), Occupational Pension Scheme or a Qualifying Recognised Overseas Pension Scheme (QROPS).

The steps you need to take to transfer your SIPP depend on how you plan to transfer it.

For cash transfers to a new provider, if you hold investments in your SIPP and you are wanting to sell all or specific investments, these will need to be sold before you initiate your transfer.
If your new provider uses the Origo service, then you will not need to complete a transfer form. Instead, please contact the provider you are transferring to, to initiate the request. Your new provider will arrange the transfer electronically.
If your new provider does not use the Origo service, then you will need to complete and return a transfer out form.
If we receive a request to transfer cash to a new provider and there are investments in your SIPP, these will need to be sold to enable us to progress. It will help speed the process up if you sell these before starting the transfer process, or if the process has started, we can assist with the sale to help expedite your transfer.
If you are transferring the investments in your SIPP, including any cash balance, then you will need to complete and return a transfer out form.

How long will my transfer take?

Transferring your pension as a cash payment usually takes 2 to 6 weeks to complete. If you’d like to transfer out your existing investments then the transfer will take longer - typically 8 to 12 weeks, depending on the type of investments you hold.

For cash transfers, your investments must be sold before making the transfer.

If you are transferring your SIPP to a Qualifying Recognised Overseas Pension Scheme (QROPS), there are additional rules that apply to these schemes and this means significant due diligence checks can be required before the transfer will be agreed to. The checks are undertaken because a transfer to a non-UK pension scheme that doesn’t meet the rules for a QROPS carries significant tax consequences for both us and you. The checks mean a transfer to a QROPS will take longer than to a UK pension scheme.

How to complete and return your transfer out form

Download an ii SIPP transfer out form.
You can type directly into the text boxes. Alternatively, you can print the form and fill it in by hand.
Section 1 - Pension Wise Guidance
If you’re aged 50 or older, we need to know if you have had an appointment with Pension Wise to discuss your pension transfer options or if you wish to proceed with the transfer without having guidance. Please tick the relevant boxes to confirm. Click here for more information on guidance from Pension Wise.
Section 2 – Transferring out
We need to know why you want to transfer your SIPP from ii. Please select a reason(s) or provide more details.
Section 3 – Account holder’s details
Complete this section with your personal, contact and account details.
If you have received advice in relation to the transfer, please select Yes, provide the details of the adviser, and move to the next section. Otherwise, please select No and move to the next section.
Section 4 – Type of receiving scheme and receiving scheme administrator details
Select the type of pension scheme that you are requesting a transfer to.
Complete the details of the receiving scheme.
Section 5 – Transfer details
Select how you wish to transfer out the investments in your SIPP.
If you are transferring investments, in full or specific ones only, please list these on a separate sheet and return with the completed transfer form.
Section 6 – Account holder’s declaration
Please read the declaration. Then sign and date the section.
Section 7 - To be completed by the receiving scheme administrator
Send the transfer form to the receiving scheme administrator for them to complete this section.
Section 8 – Investment services provider’s details
Complete this section if the pension scheme is provided by one company, and the investment/trading services are provided by a separate online stockbroker or platform service.
Next steps
When the transfer form is complete, please return to us together with any additional information that has been requested.
Please send us a secure message from your online account and attach the documents.
Or you can post the documents to: Transfers Team, interactive investor, 2nd floor, One Embankment, Neville Street, Leeds, LS1 4DW.

What questions might my new provider ask?

How can Pension Wise help?

If you have a defined contribution pension scheme and are 50 or over, then you can access free, impartial guidance on your pension options by booking a face to face or telephone appointment with Pension Wise, a service from MoneyHelper.

If you are under 50, you can still access free, impartial help and information about your pensions from MoneyHelper.

Find out more