Self-Invested Personal Pension (SIPP)

If you hold a Self-Invested Personal Pension (SIPP) with Lloyds Bank, Halifax or Bank of Scotland, please read the additional guidance and follow these specific steps.

Do you need help and guidance?

Taking money from your pension is an important decision. Pension Wise provides free impartial pension guidance that will help you understand your overall financial situation.

During a Pension Wise appointment, an independent pension specialist will

  • explain your pension options
  • explain how each option is taxed; and
  • tell you what your next steps are.

Please visit Pension Wise if you'd like to set up your free appointment.

If you’d like us to set up an appointment with Pension Wise on your behalf, please call us on the relevant number below.

Have you decided what to do with your pension?

If you’ve decided how you'd like to access your retirement benefits, please complete this short form and we’ll email you with instructions on how to do so alongside all the relevant information you need.

This form will need completing each time you wish to access your pension savings.

Important note – You must make sure there’s enough cash in your SIPP to cover the required lump sum(s), one-off, or regular income payments. Your benefit payments will be delayed if not. 

 

Where to go for further information?

Deciding how to access your money at retirement is a big decision. We have lots of information available to you, which you can access directly from your online account, including:

  • See your current valuation
  • Access your last statement
  • View your selected retirement date and change it if you want
  • Download useful guides from your Documents Library, such as the SIPP Investment guide or the SIPP Retirement guide

If you need to speak to us, please call us:

  • 0345 835 5391 (Halifax)
  • 0345 835 5357 (Bank of Scotland)
  • 0345 835 5392 (Lloyds Bank)

 

Additional Information

Dealing with cancer

If you or a loved one are living with or affected by cancer, the diagnosis alone can be overwhelming. To help you move forward, we've partnered with Macmillan to support our customers affected by cancer and help minimise any impact on your finances.

Macmillan Cancer Support does whatever it takes to support everyone affected by cancer. They offer a range of practical, emotional, and personal support, for as long as is needed.

Call in confidence on 0800 015 0016 (9am - 5pm, Mon - Fri) or visit Macmillan Cancer Support.

Need to withdraw early?

If you think there are medical reasons why you can retire early, or you receive a terminal diagnosis of 12 months or less, please call us.

We’ll explain our retirement process and help you access money from your pension. 

Are you in financial difficulty?

We know some people may be struggling to make ends meet right now.

We hope some of the following may be of use.

Alternatively, Lloyds Banking Group has support pages available also.

Your pension savings are protected by the Financial Services Compensation Scheme in the unlikely event that your provider becomes insolvent. If you transfer out of this scheme you could lose this valuable protection. Different products have different features so you should shop around for the best deal.