Before you invest
To transfer in and set up a new SIPP, you'll need to be eligible. There are also some important things to be considered when transferring.
You can open an account if:
- You're aged 18 or over
- You are a resident in the UK, or you or your spouse or civil partner work overseas for the UK Government
You'll need to:
- Transfer a minimum of £5,000, or £1,000 if you are making regular payments of at least £25 a month
- Understand that the value of your investment can go down as well as up and you could get back less than has been paid in
- Understand your cash won't be invested when we're processing your transfers so won't be affected by any rise or fall in value during that time, but any unit transfers will remain invested so will continue to be affected by changes in the investment value
- Understand your current provider might not take your pension pot back if you change your mind about transferring
- Understand any special guarantees or benefits you might lose by transferring
- Understand there's no guarantee you'll be better off by transferring
- Be comfortable managing your account and investments online
If you're looking to invest in shares or other exchange traded investments, you'll be able to do this from any available cash once your account is open, rather than selecting your investments as part of your account opening application. Find out more about the main risks of investing in shares and other exchange traded investments by reading our important information for investors (PDF 56 KB).
We'll always follow our 'best execution practices' which you can find in our latest order execution policy (PDF 149 KB). We also have a policy to prevent conflicts of interest (PDF 103 KB). If there's ever a conflict of interest which we can't prevent that might affect your investment, we promise to let you know.
By applying for this product, you’re confirming that you have read the important policy documents and our Fair Processing Notice (PDF 73 KB), which explains your data rights.