Self-Invested Personal Pension (SIPP)

We're not currently accepting new applications for SIPP accounts.


But don't worry. If you already have an open account with us, you can still manage it as you do today.

This page contains guidance on managing your SIPP. 

Key dates for your SIPP changes:

  • Last lump sum withdrawal request: Monday 8 September 2025​.
  • Last one-off contribution: Friday 12 September 2025​.
  • Last regular income payment: Monday 15 September 2025​.
  • Last trade: 4.30pm Friday 19 September 2025​.
  • New SIPP will be open: Monday 22 September 2025.

Managing your SIPP

  • Your new Scottish Widows SIPP in partnership with IWeb will be ready on 22 September 2025. Right now, we’re not accepting new contribution requests. You can make a request after that date. If you have any questions, you can call us on 03450 707 129 or chat to us when signed in to your account, available Monday - Friday, 8am to 9pm.

  • Our benefits process has been designed to give you the necessary information and time needed to make an informed choice when taking benefits from your SIPP. 

    • Information on Taking Benefits Form (PDF, 133KB)

    • Benefits Guide (PDF, 236KB)

    Once you reach the age of 55 you can start taking an income from your SIPP, or you can choose to keep your money invested and continue to contribute to your pension pot. If you need to take an income or need access to the money in your pension, you can choose any, or a combination, of the below options.  

    Income drawdown (also known as flexi-access drawdown) 

    If you don’t need a secure, regular income then you can continue to manage your pension fund and draw a variable income (within certain limits) directly from the SIPP. You will continue to make all investment decisions, and the value of your SIPP will rise and fall depending on the performance of your investments.

    If you wish to transfer a pension to your IWeb Share Dealing SIPP from which you have already started taking benefits, please complete the Transfer In Drawdown Benefit Form (PDF, 181KB). This form should be completed in addition to your SIPP application and the relevant transfer-in form(s). If you are transferring more than one pension in drawdown, please complete one form for each transfer.

    Charges will apply to your SIPP where you designate some or all of your SIPP to drawdown.  

    Taking a taxable lump sum (also known as an uncrystallised pension lump sum).

    You can take a one-off payment from your pension or a series of lump sums, keeping the remainder of your pension invested. The first 25% is tax-free, with the remainder subject to tax at your usual rate of income tax.

    Purchase an annuity

    An annuity converts your pension fund into a regular, secure income payable for the rest of your life. Choosing an annuity is an important decision to get right as, once you’ve signed up, it can’t be stopped or changed.

    • For more information about your options, read our Benefits Guide (PDF, 236KB)  and Information on Taking Benefits Form (PDF, 133.5KB).

  • Your new Scottish Widows SIPP in partnership with IWeb will be ready on 22 September 2025. Right now, we're not accepting transfer requests. You can make a request after that date. If you have any questions, you can call us on 03450 707 129 or chat to us when signed in to your account, available Monday – Friday, 8am to 9pm.

More SIPP support

AJ Bell Management Limited is the Scheme Administrator of the IWeb Share Dealing SIPP. AJ Bell Management Limited is registered in England No. 3948391. Registered Office: 4 Exchange Quay, Salford Quays, Manchester M5 3EE.

Authorised and regulated by the Financial Conduct Authority and on the FCA register under FCA register number 211468. Sippdeal Trustees Limited is a wholly owned subsidiary of AJ Bell Management Limited, registered in England No. 4050222. Registered Office: 4 Exchange Quay, Salford Quays, Manchester M5 3EE. Sippdeal Trustees Limited does not conduct any regulated activities, and is, therefore, not regulated.