Wrap SIPP drawdown

A full suite of drawdown flexibility, including the ability to lock in the best platform charges.

Risk warning

The value of investments can go down as well as up, and the investor could get back less than was paid in. Laws and tax rules may change in the future. Personal circumstances and where the investor lives in the UK will also have an impact on tax treatment.

Wrap SIPP drawdown

Wrap SIPP drawdown offers a range of flexible options to suit you and your clients.
  • Drawdown price lock lets you lock in the best platform charges when client assets are at their highest
  • A full suite of drawdown options are available including Capped and Flexi-access drawdown
  • A full range of death benefits available
  • Flexible adviser charging to clients for your services in a way that suits you both
  • A wide range of investment choice including standard core investments, Managed Portfolios and MyFolio funds
  • No minimum withdrawals. Withdrawals, ad hoc payments and tax-free lump sums are normally paid within 5 working days
  • Fast and dynamic drawdown form

Drawdown price lock

Clients can benefit the most from locking in their Wrap SIPP platform charge when assets are at their highest. This means charges for their SIPP will not increase as they take money out of their pension pot and move back down the pricing tiers.

The price locked in is based on pension and non-pension platform eligible assets, including assets held within a family linking arrangement. The Price Lock applies to the SIPP platform charge.

We understand that clients' plans and needs can change. You have flexibility to apply and reset the price lock once in a 12 month period for each eligible client. You can remove the lock at any time.

Wrap SIPP drawdown options

We have options that make it easier to customise drawdown to suit your clients' needs.

Flexi-access drawdown - Take all or some of the tax free cash entitlement and use the remaining funds to provide a flexible income.

Capped drawdown - Existing capped drawdown clients can remain in capped drawdown, maintaining their annual allowance and taking income payments in line with GAD.

Tailored drawdown - Regular income made up of any combination of tax-free and taxable income, within legislative limits. With Wrap SIPP, tailored drawdown will be automated if the income is set up correctly at outset and there is always cash available.


  • The pension pot must be at least £10,000 for Wrap SIPP
  • The FCA recommends a minimum of £100,000 so other sources of income should be considered.
  • Applicants must be UK residents


There is no charge for moving to drawdown or being in drawdown. However, if the client is invested in off-platform investments a yearly charge for pension fund withdrawal will apply. This will apply if tax-free lump sum(s) or income has been taken, even if there has been no income paid in the last 12 months.

Please see our charges guide (PDF) for details.

Flexible adviser payments

Flexible adviser charge options are available including Drawdown Initial and Ad hoc charges, which ensure that paying for advice in retirement can be done flexibly and at any point.

All adviser charges can be expressed as a percentage or a set monetary amount.

We'll only pay the charge if a client has enough money in the SIPP bank account or in our insured (SLIP) pension funds. We won't disinvest other assets to pay it. This means that we’ll delay payment until there’s enough money to support the payment of the charge.

If the charge payment fails three times due to insufficient money being held in the SIPP bank account and the insured pension funds, we’ll cancel the charge. We’ll notify you, and we'll write to your client after the second failure.

Initial adviser charge

You may agree a charge with your client for advice for drawdown. We call this the initial adviser charge. This will apply each time your client takes benefits.

Ongoing adviser charge

Payment be taken once a year or split across a different time period (every month, quarter, half-year or year).

Ad hoc adviser charge

You may agree to take a one-off payment for client servicing, which is known as an ad hoc adviser charge. This can be taken at any time.


Online servicing

Log in to Wrap to get a quote, submit new business and make top ups to existing client accounts. Please use your firm's Wrap login as usual. If your firm does not have its own version of Wrap, you can log in below.

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