COMBINE YOUR PENSIONS AT FREETRADE

Give your pensions a new home at Freetrade. With a low, fixed monthly fee, your pension plan can grow without your fees growing too.
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Capital at risk. SIPP eligibility and tax rules apply.
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When you invest, your capital is at risk. The value of your portfolio can go down as well as up and you may get back less than you invest. Tax treatment depends on your personal circumstances and current rules may change. US dividends received into your SIPP may be subject to US withholding tax.

Take control of your pensions

How much do you know about your existing pension plans? Do you know the current value of your pensions or what they are invested in? Do you know how many pension plans you have amassed through your working life?

If you want to be in control of your retirement pot, transferring to Freetrade’s SIPP might be the right choice for you.

Open a pension
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Reasons to transfer:

  • Your pension’s value is being eaten away by high costs and commissions.
  • You don’t have visibility on what your pension is invested in.
  • You’ve changed jobs and lost track of your pensions, so you want to consolidate them under one plan.
  • Your investment choices are limited and not aligned with your personal needs.
  • You want a simple, intuitive platform where you can manage your pensions easily.
Transfer a pension
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Pensions that are transferred to the Freetrade SIPP may lose the protected pension age benefit. This means that you will not be able to draw the monies from the Freetrade SIPP until you are aged 57. Please ensure you know what this means for you and the effect it may have on you and your savings. Check before you transfer a pension to us that we can accept your investments, you won’t lose any valuable benefits or guarantees, and that you know what charges you may incur. Seek advice from a suitably qualified financial adviser if you are unsure about making a transfer.

A SIPP is a pension designed for you to save until your retirement and is for people who want to make their own investment decisions. You can normally only draw your pension from age 55 (57 from 2028), except in special circumstances.

At present, Freetrade only supports Uncrystallised Fund Pension Lump Sums (UFPLS) for customers who wish to withdraw funds from their SIPP after their 55th birthday. We strongly encourage you to seek financial advice before making any withdrawals from your SIPP.

Choose where to invest your PENSION

Stocks
Invest in thousands of companies listed on the LSE, NYSE, NASDAQ, and across Europe.
ETFs
Choose from a wide range of exchange-traded funds including index, commodity, and bond ETFs from providers like Vanguard, iShares, Invesco, and more.
REITs
Add residential or commercial real estate assets to your portfolio without the hassle of buying and managing the properties yourself.
Investment trusts
Choose from hundreds of investment trusts across a wide range of sectors, geographical areas, and markets worldwide.
UK Treasury Bills
Earn a fixed yield on your cash. Low-risk and backed by the UK government. Rate subject to success in tender.
Explore investments
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Check before you transfer a pension to us that we can accept your investments, you won’t lose any guarantees, and that you know what charges you may incur. Seek advice if you are unsure about making a transfer. Always do your own research.

Pensions that are transferred to the Freetrade SIPP may lose the protected pension age benefit, if applicable to you, meaning that you will need to wait longer until you can draw monies from your Freetrade SIPP. Please ensure you know what this means for you and the effect it may have on you and your savings.

Freetrade won't charge you to transfer your pension to us, but please check with your existing provider what fees or restrictions may apply from them. We cannot provide you with any advice therefore it is your responsibility to ensure you are happy that transferring to the Freetrade Pension is right for you.

If you're unsure if transferring your pension to Freetrade is right, you should take advice from a suitably qualified financial adviser. For more info, see our SIPP Key Features Document, Terms and Conditions, Charges Schedule and SIPP Declarations.

Withdrawing money from your Freetrade pension

Cash that you put in your pension is intended for retirement. You will not be able to access money that you invest in your Freetrade pension until you’re 55 (rising to 57 in 2028), except in special circumstances, such as serious illness.

At present, Freetrade only offers a form of withdrawal called an “uncrystallised funds pension lump sum”. This is a payment taken from a pension, out of which you have not previously taken funds through another method, like a drawdown fund. This kind of withdrawal can impact the amount that you’re able to save into your pension in the future.

If you’re considering withdrawing money from your pension in the next few years, it’s important that you speak to a suitably qualified financial adviser to understand your options.

Further considerations

Combining all your pension plans will give you better visibility on how your retirement plan is shaping up and should help to cut down costs in the long term.

Focusing on growing your pension is great; however, before making any changes to your current plan, you should make sure that transferring it is the right thing to do, with the help of a financial adviser, if required.
  • Is your current provider going to charge you any exit-fees?
  • Will any market value adjustment (MVA) apply on transfer from your existing provider?
  • Will you lose any valuable benefits or guarantees? We cannot accept transfers from Final Salary Pensions, Defined Benefit Pensions or any pensions that contain Safeguarded Benefits which includes Protected Tax Free Cash (PTFC), Protected Retirement Ages (PRA), Guaranteed Annuity Rates (GARs) or Guaranteed Minimum Pensions (GMP).
  • How long might the transfer take and what impact might this have on your existing portfolio?
  • Can you transfer your existing pension plan investments without cashing them in?

Pension transfer FAQs

Here you'll find answers to the most frequently asked questions. If you have a question that's not listed, please contact support.
What type of pension can I transfer?
What investments can I transfer in?
What information do I need to provide to request the transfer?
How long will the transfer take?
What are the charges for transferring into a Freetrade SIPP?
What happens if I want to transfer my SIPP to another pension provider?
Is there a minimum transfer value?
Can I transfer a SIPP from another pension provider to a Freetrade SIPP?
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Basic
£0.00
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Accounts
  • General Investment Account
Benefits
  • A great way to try Freetrade before transferring your ISA or pension
  • Unlimited commission-free trades. Other charges may apply.
  • Trade USD and EUR stocks at the exchange rate + 0.99% FX fee
  • Access to a selection of Freetrade’s 6,200+ global stocks and ETFs
  • 1% AER on up to £1,000 uninvested cash
  • Fractional US shares
  • Access to mobile app and web platform
Get basic now
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Everything in Basic and:
  • Access to 6,200+ global stocks and ETFs, including gilts
  • A lower FX fee of 0.59% on non-GBP trades
  • 3% AER on up to £2,000 uninvested cash
  • Early market access with pre-market trading
  • Automated order types, including recurring orders
  • More stats and analysis, including analyst ratings and EPS estimates 
Get Standard Now
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Accounts
  • General Investment Account
  • Stocks and shares ISA
  • Personal pension
Everything in Standard and:
  • A lower FX fee of 0.39% on non-GBP trades
  • Priority customer service
  • 5% AER on up to £3,000 uninvested cash
  • Free, same day withdrawals
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