From the age of 55 you have a number of options available. You can leave your pension pot and continue to save or, if you want to take an income and need access to money in your pension, you can choose any of the below options.
Once you reach age 75, we can no longer accept any contributions you pay yourself, even if this is to cover administration fees of the account. But if you are still employed, we can accept contributions your employer pays.
Pensions are a long-term investment. The retirement benefits you receive from your pension account will depend on a number of factors including the value of your account when you decide to take your benefits which isn't guaranteed, and can go down as well as up. The value of your account could fall below the amount paid in. Tax treatment depends on individual circumstances and may be subject to change in the future.
We don't provide advice so if you are in any doubt about making your own investment decisions we recommend you seek advice from a suitably qualified financial adviser. There will normally be a charge for that advice.
SIPPs are a pension product and you will not be able to withdraw your funds until you reach the age of 55 (57 from 2028).
Understand the risks (PDF, 64 KB)
Dealing and stock broking administration services are provided by the IWeb Share Dealing Service which is operated by Halifax Share Dealing Limited. Registered in England and Wales No. 3195646. Registered Office: Trinity Road, Halifax, West Yorkshire HX1 2RG. Authorised and regulated by the Financial Conduct Authority under registration number 183332. A Member of the London Stock Exchange and an HM Revenue & Customs Approved ISA Manager.