Declare financial advice about your transfer

Some pensions have safeguarded benefits. For example, defined benefit pensions/final salary pensions, which pay a guaranteed annual income. Also, pensions which have guaranteed annuity rates or the option to take more than 25% as tax-free cash. It is rarely beneficial to transfer out of such schemes as you will lose your safeguarded benefits.

If you are transferring a pension with defined or safeguarded benefits worth £30,000 or more, you will need to take independent advice that confirms the transfer is in your best interests. 

Where the transferring value is less than £30,000, we will normally accept the transfer without advice where the value represents no more than 10% of the value of your SIPP. 

If you are transferring from a hybrid scheme (a scheme with defined benefit and defined contribution elements) worth £30,000 or more, we still require you to complete this form. This applies even if the safeguarded benefits portion of the hybrid scheme is only worth a fraction of the total value.

If in doubt, please contact us before starting your transfer.

To confirm your independent advice, you and your adviser will need to complete a Financial Advice Declaration Form. 

Please complete all sections and sign at the bottom. Your advisor will also need to sign the form.

The quickest and easiest way to return your form to us is via secure message in your online account. 

Alternatively, you can return it by post to: Transfers, interactive investor, 201 Deansgate, Manchester, M3 3NW.