In order to withdraw the money from your SIPP account, you must reach the minimum retirement age which is currently set at the age of 55 (rising to 57 in 2028). This is a government requirement. In case you have reached this age and you wish to withdraw the money, please check the following steps:
1. Contact a Financial Advisor
As accessing your benefits is an important and sometimes irrevocable decision we recommend that you seek guidance from Pension Wise or at your own cost, take advice from a regulated financial adviser in order to understand your options. Pension Wise is a government-backed service that offers free and impartial guidance.
You can access Pension Wise online at www.moneyhelper.org.uk/en/pensions-and-retirement/pension-wise or by calling 0800 1383944 to arrange a telephone or face-to-face appointment. If you’re outside the UK, you can call +44 20 3733 3495.
2. Contact our Customer Success Team
Once you have contacted a regulated financial advisor and have decided on how you are going to withdraw your Pension, you can contact our Customer Success team. Our agents will provide you with the necessary documentation and the next steps regarding your withdrawal.
Once you provide us with all the necessary documentation, the process is estimated to take around 8 weeks. The money will arrive directly into your bank account.