The process for withdrawing the full value of a SIPP differs from a standard withdrawal, as the value submitted via the online portal reflects the asset value, not the available cash balance. As a result, all investments must be fully disinvested and the proceeds settled as cash within the SIPP before the withdrawal can be scheduled for the next available payroll. This ensures the correct amount is paid to the client and that any final fees are settled.
To request a full withdrawal, please submit the payment request via the online portal. The selected payment date is for guidance only and indicates the client’s preferred payment date; it is not guaranteed.
If disinvestment is required, we will arrange this on receipt of the request. Please note that cash may not be fully settled by the selected payment date, in which case the withdrawal will be moved to the next available payroll run.
If disinvestment is completed prior to submitting the withdrawal request, please ensure a ring‑fence is applied to prevent the cash from being reinvested.
Once the final withdrawal has been paid, and where no further contributions or transfers are expected, the SIPP is placed into closing status. The account will remain open for six months to allow any residual dividends to be received. If there is no activity on the SIPP during the six‑month period, the SIPP will be formally closed.
If the SIPP is required to remain open following the final withdrawal, please notify us by submitting an FD ticket.
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