Convert your existing capped drawdown pot into flexi-access drawdown

Capped drawdown is only available if you have already moved funds into capped drawdown. Since 6 April 2015, the option to enter capped drawdown has been unavailable to new retirees. 

If you have funds in your SIPP that are in capped drawdown, you can move those funds into flexi-access drawdown. 

You can do this by completing and returning a Taking Pension Benefits (capped) form. The easiest way to return your form is via secure message using your online account. 

Please note this usually takes between 4 and 8 weeks to process.

How to convert your capped drawdown pot into flexi-access drawdown

Capped drawdown is only available if you have already moved funds into capped drawdown. If you convert your capped drawdown pot into flexi-access drawdown, you will not be able to convert it back into capped drawdown at a later date.

Learn more about capped drawdown. 

1. Download a taking capped drawdown benefits form. 
   You can type directly into the text boxes. Alternatively, you can print the form and fill it in by hand. 
2. Read through the important information on the first page of the form.
3. Complete Section 1 by entering your account details.
4. Complete Section 3. 
   Tick the box to confirm you wish to convert all of your capped drawdown pot into flexi-access drawdown. 
   You can also choose to start taking a regular taxable income or a taxable lump sum from your new flexi-access drawdown pot.
5. Send your completed form to us. 
   The quickest and easiest way to send your form to us is via secure message in your online account. Alternatively, you can return it by post to: Product Admin, interactive investor, 2nd floor, One Embankment, Neville Street, Leeds, LS1 4DW.