Retirement ready: how to make your pensions easier to manage

No news or research item is a personal recommendation to deal. All investments can fall as well as rise in value so you could get back less than you invest.

No recommendation

No news or research item is a personal recommendation to deal. All investments can fall as well as rise in value so you could get back less than you invest.

The time leading up to your retirement can be busy. You might be juggling work while planning holidays and trying to spend more time with your family. You don’t want to be spending extra time dealing with multiple pension providers.

There are some important factors to consider when deciding if you should transfer your pensions to get ready for retirement.

How to choose the right provider for your retirement

Retirement options

Not all providers were ready for 2015’s pension freedoms. Many started offering drawdown for the first time so didn’t have experience helping their clients with this option.

Hargreaves Lansdown has offered drawdown to clients for well over a decade. We also offer the other main retirement options in the Vantage SIPP –
lump sum withdrawals and a
whole of market annuity service – so you can choose the options that suit your needs.

Drawdown and lump sum withdrawals are higher risk than an annuity as your income is not secure. You could run out of money if you take too much out, you live longer than expected or your investments perform poorly.

Find out more about your options in our free guide: ‘Your options at retirement’

Investment choice

Where you invest depends on your goals and attitude to risk. These can change when you get nearer to retirement and start taking an income. It’s important you are able to research your investments and easily change them when you decide the time is right.

Hargreaves Lansdown offers expert research in both
funds and
shares to help you decide where to invest in the Vantage SIPP. Whether you’re an experienced investor, just starting or want to leave it to an expert, we can offer the right investments for you. You can buy and sell investments online, via the
HL app, over the phone or in writing with ease. Investments can fall as well as rise in value so you could get back less than you invest.

See where you can invest in the Vantage SIPP

Expert help

It’s important to be able to manage your retirement savings with ease and confidence in order to make the most of your hard-earned money. This is why most people value a pension provider that goes the extra mile to give you the help you need.

Hargreaves Lansdown clients have access to our
Bristol-based Pensions Helpdesk six days a week. We also provide free
tools and
easy to read guides to help you plan and make the most of your hard-earned money.

Find out more about transferring to the Vantage SIPP

Easy to transfer

If you are happy making your own investment decisions and want to choose the UK’s Best SIPP Provider, as voted for by readers of What Investment magazine, it’s easy to transfer.

Before you transfer, please ensure you have read and understood the
Vantage SIPP Key Features (including the Transfer Checklist and Common Transfer Declaration),
Terms & Conditions (including Tariff of Charges) and
Important Investment Notes. Please also ensure you won’t lose any valuable guarantees or benefits or incur excessive exit fees. Unless otherwise arranged, pensions are transferred as cash and will miss any market rises or falls for a period.

To transfer,
download a transfer form, return it to us and we will look after the rest of the transfer. Or, if you already have an account with Hargreaves Lansdown you can apply to transfer online.

Apply to transfer now

Transfer and receive a free Cross pen set

You can also currently receive a free Cross pen set worth £125 as a thank you when you transfer pensions to the Vantage SIPP.

To qualify, transfer at least £10,000 and use a qualifying transfer form. If you need longer to decide
let us know as we might be able to extend the offer. Pen sets are sent within six weeks of transfers completing.

Download a qualifying transfer form or apply to transfer online

What help is available

What you do with your pension is an important decision. Therefore, we strongly recommend you understand your options and check your chosen option is suitable for your circumstances: take appropriate advice or guidance if you are at all unsure.

The government’s Pension Wise service can help. Pension Wise provides free impartial guidance on your retirement options face-to-face, online or over the phone –
more on Pension Wise.

You can call Hargreaves Lansdown’s Pensions Helpdesk today to get answers to your questions on 0117 980 9926 (Mon-Thurs 8am-7pm, Fri 8am-6pm and Sat 9:30am-12:30pm) or
email us.

Our articles and guides are not
personal advice. We offer a range of information to help you plan your own finances and personal advice if requested.

This article is part of a three-part series designed to help you get your pension ready for retirement. The previous articles from this series are still available:

Retirement ready: will you have enough money?

How to get your portfolio retirement ready

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