Transfers
As well as funding a SIPP by way of contributions, consolidation of existing pension arrangement may also be considered.
Please note I.P.M. SIPP Administration Limited is regulated by the Financial Services Authority but not to provide financial or investment advice.. Any transfer of existing benefits is not a decision that should be undertaken lightly and independent financial advice should be sought before a transfer proceeds.
Transfers In
One of the main attractions of the SIPP is that it allows for all of an individual's existing pension arrangements to be consolidated under one umbrella.. IPM is experienced in co-ordinating transfers from all types of registered pension schemes including personal pension arrangements to the old style retirement annuity contracts to group small self-administered scheme (SSAS) transfers.
Most transfers will be undertaken when the SIPP is established and therefore the details of the policies to be transferred can be provided to IPM on our application form.. However should a client wish to undertake further consolidation of existing policies at a later date our additional transfer form must be completed.
On receipt of a completed transfer application, IPM will contact the administrator of the ceding scheme and negotiate the transfer of benefits to the IPM Personal Pension Scheme, keeping the client and their advisers regularly informed.
Whilst IPM ensures that all paperwork is completed and issued in a timely manner, we
are reliant on the
co-operation of the current scheme providers in order to ensure that all benefits are transferred as efficiently and quickly as possible.
Back to top
Transfers Out
IPM sincerely hopes that you will find no reason to transfer benefits from IPM as a result of the service you have received.. However, personal circumstances change and it may be appropriate to transfer out.. Where this happens, IPM will provide all of the information required to the receiving administrator in the same timely manner.
Back to top
Transfers In-Specie
Increasingly, clients wish to transfer assets and not cash from one existing pension arrangement to another.. This can be catered for, although experience suggests that transfers of this nature take a little longer and can result in additional fees being charged.
If a transfer in-specie is to be made to IPM then we will need to be advised of this at the outset of the transfer process so that the appropriate documentation can be put into place. We will also require a list of the assets that are to be transferred. Please see our transfer in-specie questionnaire for further information.
Back to top
Transfer of Pensions already in payment
In some cases it is possible to transfer from existing arrangements already paying pensions.
In order to initiate this process our transfer of crystallised benefits form will need to be completed in addition to the standard IPM application form.. This provides us with details of the amount of income, frequency of payments and the bank details to where payments are to be made.
IPM will negotiate the transfer on a client's behalf, trying to ensure that there is no break in the flow of monthly pension payments.
I.P.M. SIPP Administration Limited, Cintel House, Watton Road, Ware, Hertfordshire SG12 0AD Tel 0845 130 3443 Fax 0845 230 3443
email info@ipm-pensions.co.uk I.P.M. SIPP Administration Limited is authorised and regulated by the Financial Services Authority.
© Copyright 2007 IPM SIPP Administration Limited. All Rights Reserved.