Drawdown request for Wrap SIPP

Check what’s needed and submit a drawdown request for your client.

Before you start

Check your client is eligible

To apply for drawdown your client must be at least age 55 (rising to 57 from April 2028), or have a protected pension age, or be granted an Ill Health Claim and have over £10,000 in the Wrap SIPP.

If your client is moving to drawdown for the first time and the policy is £10,000 or less, you can select either the small pot or full encashment option.

Need some support?

If you need help with this form, please call our Client Engagement Hub. Mon-Fri 9:00 to 17:30. 0345 279 1001

Prevent payment delays - complete the following before starting the application

For all applications

Check client and bank details are up to date on the platform
Ensure any address changes have been made (and verified if needed). If a different bank account is needed, call us to go through the verification process or complete the bank details verification form in advance.
Set up sells of investments
You must set up sells for on/off platform investments to provide cover for this application and upcoming platform and adviser charges.
Price Lock – run a charges summary
If applying for Drawdown Price Lock, a charges summary must be run within the last 7 days before the drawdown application is submitted.
Complete and send the off platform trades form
For any off platform investments, please ensure the off platform trades form is completed and emailed to us, following the instructions in the form.

In addition – for tax-free cash applications

Upload Lifetime Allowance protection certificate
If there is a tax-free cash (Lifetime Allowance) protection, the certificate must be uploaded to the client document library on the platform. You can also provide a reference number using the further comments section at the end of the online form.
Upload TTFAC
If you’ve applied for a TTFAC (Transitional Tax-Free Amount Certificate) from another pension scheme, the certificate must be uploaded to the client document library on the platform before submitting the drawdown request.
The form will ask you to confirm the Lifetime Allowance % used from other providers up to 05/04/2024
Provide the Lump Sum Allowance used from other providers on or after 06/04/2024 when asked in the form
The form will also ask for the Lump Sum and Death Benefit Allowance (LSDBA) used from other providers on or after 06/04/2024
Has MPAA been triggered? We will ask for the date it was triggered in this application.

Start your application – select the drawdown type required

Tax-free cash and income

Our standard drawdown providing flexible or Tailored drawdown. Use this form if you are including a tax-free cash element (TFC & Income or TFC only).

At least age 55 (unless they have a protected age or have been granted an ill health claim)
Have over £10,000 in their SIPP

Drawdown request with tax-free cash

Income only

If just applying for income (no tax-free cash element) you can use this shorter form).

At least age 55 (unless they have a protected age or have been granted an ill health claim)

Income only drawdown request

Inherited drawdown

For drawdown applications from the death benefits of another pension.

Be the beneficiary from the death benefits of another pension

Inherited request

Full encashment

For fully drawing down the balance of the pension. Can be a mix of TFC and income or income only.

At least age 55 (unless they have a protected age or have been granted an ill health claim)

Full encashment request

Small pots

For fully paying out pots of £10k or less in clients' SIPP.

At least age 55 (unless a protected age or granted ill health claim)
Not taken more than 2 small pots already
No suspended assets

Small pot request

Capped and Insured funds

For existing capped drawdown clients or for those invested in SLIP insured funds, please add your instructions to the PDF drawdown request here.

Other drawdowns

What happens after I apply?

Email confirmation when request submitted
You'll receive an email when you submit the form to confirm we've received the application. If you don't receive this within 30 minutes, please check your junk folder.
Drawdown request details added to document library
In the next 3 working days a copy of these request details will be uploaded to the platform document library for your reference.
Drawdown pack and income diary added to document library
A drawdown pack and an income diary (if income selected) with tax codes and payment details will be uploaded to the platform document library. Please note, there can be an initial delay for the income payments to show on the platform transaction history but the payments are being made once the income diary is uploaded.
Email confirmation when request complete
We will send you an email to confirm when this request is complete and payments processed.