Does anyone know if it is possible to transfer SIPP providers once you have crystallised pension funds?
It occurred to me we spend a lot of time optimising charges etc in accumulation phase, and transferring accounts to the best place, but I am not sure if it is even possible to do this once you have started taking a pension?
Means that the choice of provider if you are approaching taking benefits becomes even more important.
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changing SIPP providers in drawdown
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DrBunsenHoneydew
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Re: changing SIPP providers in drawdown
It is entirely possible to change SIPP providers after drawdown has commenced.
Indeed, there is often a transfer bonus from the new company (AJ Bell will pay £500 for example) which can offset transfer-out fees from the old company.
Other pensions in payment such as annuities are not usually transferrable though.
Indeed, there is often a transfer bonus from the new company (AJ Bell will pay £500 for example) which can offset transfer-out fees from the old company.
Other pensions in payment such as annuities are not usually transferrable though.
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