Wrap SIPP drawdown
A full suite of drawdown flexibility, including the ability to lock in the best platform charges.
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
- 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
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
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
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
Ongoing adviser charge
Ad hoc adviser charge
More resources for advisers
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