It's important to note that the InvestEngine SIPP is designed to primarily cater to individuals in the accumulation phase of building their retirement fund. While we can support your drawdown requests, you should be aware that our app and interfaces may not reflect all the drawdown information you might expect.
This process will involve the completion of paper-based forms.
Once you have decided to access your InvestEngine SIPP you will be sent forms in three stages. We can not provide you with all of the required forms upfront as your answers to each stage affect which form you receive in the next stage. The most common path investors follow is outlined below.
Stage 1 - you will be provided a declaration to confirm if you have taken financial advice, if you will be taking financial advice, or if you would like to opt out of taking advice.
Stage 2 - you will be provided with two forms. The first form will allow you to confirm how you would like to access your funds. The second form contains questions that are designed to help you make an informed decision regarding your request.
Stage 3 - you will be provided with a final form which is your final confirmation of how you wish to proceed.
At this stage you will be required to provide a certified copy of your bank evidence and a certified copy of your age evidence.
Evidence of your bank statement can take the form of a spoiled cheque or a copy of your bank statement certified as a true copy of the original. Your bank statement should be dated within the last three months.
Evidence of your age should be a copy of your birth certificate, driving licence or passport certified as a true copy of the original. Please do not send us original documents.
A document can be certified by a professional,such as
• Solicitor or notary
• Doctor or Dentist
• Bank or Building Society official
• Teacher or Lecturer
• Councillor or minister of religion
It should not be certified by someone related to you, living with you or in a relationship with you. The person certifying the document should;
• Write “Certified to be a true copy of the original” on the document
• Sign and date the copy, printing their name and occupation under their signature
Once the stages have been completed and we have sufficient cash, InvestEngine will send a payment to Quai, the SIPP trustee.
If your drawdown request is to include any form of pension income then Quai will process the payment, including any tax free cash, on the date stated in the below table. For a payment to be included in a given month's payroll, the payment must be received by our trustee before the date stated in the 'Income Deadline Date' i.e. a payment sent to our trustee on the 29th of January would be included in the payroll dated the 27th of February.
If you would like to request a drawdown from your SIPP account, please let us know by emailing support@investengine.com and we will assist you further.