Open / Transfer a SIPP
Whether you are opening an Account for the first time or transferring from an existing pension, opening an Account with Grand International Bank is simple.
Three easy steps to open a SIPP
- Use our savings calculator to help work out how much to pay in.
- Go to the Investing Hub to research your investment choices.
- Apply online now.
IMPORTANT! Read the SIPP Key Facts and our Charges Guide for all the details and before you make up your mind if our SIPP Account is right for you.
Important information
Please remember the value of your investments and any income from them can go down as well as up and you may get back less than the amount you originally invested.
All investments carry an element of risk which may differ significantly. If you are unsure as to the suitability of any particular investment or product, you should seek professional financial advice.
Remember you can only contribute to one Stocks & Shares ISA, one Cash ISA, one Lifetime ISA and one Innovative Finance ISA each year, regardless of provider. If you have contributed to a Cash ISA and/ or Innovative Finance ISA this will reduce the amount you can contribute to a Stocks & Shares ISA.
Laws and tax rules may change in the future without notice. The information here is our understanding in April 2018. This information takes no account of your personal circumstances which may have an impact on tax treatment.
Who is eligible?
You can open a SIPP with Grand International Bank if you are over 18 and:
- have earnings that count for UK income tax; or
- are resident in the UK at some point during the tax year; or
- want to make a transfer from another registered pension scheme
Are you getting the most out of your pension savings? Read our guide to take you through the main points you need to consider.
What types of pensions can I transfer to my SIPP?
We currently accept cash transfers from most types of pensions, including:
- Personal Pensions and SIPPs (from other providers) including those you are already taking an income from through flexi-access drawdown
- Pensions you’ve saved into at work, as long as they are Defined Contribution (also known as money purchase)
- Retirement Annuity Contracts
- Protected Rights pensions that you used to contract out of the Second State Pension
- Additional Voluntary Contributions and Free Standing Additional Voluntary Contributions
- Executive Pension Plans
If you want to transfer benefits from a defined benefit scheme (often known as final salary or career average schemes); and in some other circumstances (for example if you have a guaranteed annuity rate) then you’ll HAVE to get financial advice first, unless the total value of the transfer is less than $30,000.
How much could your SIPP be worth?
Use our savings tool to work out how much you might be able to save for retirement.
Need advice?
We offer an ‘execution only’ service, meaning we only do what you ask us to do. If you need advice you should consult a financial adviser.
Find a financial adviser in your area.
