Your options at a glance
LifePlan is closing. Here are your four options and what happens if you do nothing.
- Move to Managed: complete the Risk Profile Questionnaire, then open a Managed portfolio and move your funds across. 0.25% annual fee plus ETF costs.
- Move to DIY: choose your own ETFs. No annual fee, ETF costs apply.
- Withdraw or transfer out: transfer to another provider or withdraw your balance. No charges, though ISA tax status is lost on withdrawal and SIPP access is age restricted.
- Top up another portfolio: move the funds into an existing DIY or Managed portfolio.
If you do nothing: we will sell your LifePlan investments by 7th December 2026 and hold the cash in the same tax wrapper. Cash earns no interest. Acting before the deadline prevents this. Your capital is at risk, and you may wish to speak to a financial adviser.
We’re making an important change to our investing services: we’re retiring InvestEngine LifePlan portfolios for all existing customers.
This post explains why we’ve made the decision, the options available for those that have LifePlan portfolios, and what will happen if LifePlan investors do nothing.
What’s happening?
As part of our regular review of our services, and our ongoing work to strengthen how we assess that an investment remains suitable for each client, we concluded that LifePlan now overlaps closely with our Managed service. Rather than run two very similar services, we've decided to retire LifePlan and concentrate on our Managed offering, supported by an enhanced suitability process.
Our aim is to make the transition as straightforward as possible for those with existing portfolios with the LifePlan service with clear next steps.
Why are we retiring LifePlans?
We've taken the carefully considered decision to retire LifePlan and concentrate on our Managed service. Our Managed portfolios are built and managed by the same investment team, using the same approach of diversified, low-cost ETFs, and are supported by an updated suitability process designed to help make sure clients remain in a portfolio that's appropriate for them.
Like LifePlan, our Managed service is an investment service. Your capital remains at risk, the value of your investments can go down as well as up, and you may get back less than you invest.
What are the options for existing LifePlan portfolios?
You have a few ways to proceed. Before making any changes, you may wish to speak to a financial adviser to help you decide which option will best suit your needs.
Option 1: Move to InvestEngine’s Managed service
If you’d like to stay invested with a portfolio that’s managed for you, you may move your LifePlan funds into InvestEngine’s Managed* portfolios.
To move to Managed, you'll first need to complete our Risk Profile Questionnaire, this helps us match you to a portfolio that's appropriate for your circumstances and attitude to risk. The portfolio you're matched to may differ from your current LifePlan portfolio.
Once you've completed the Risk Profile Questionnaire, you can:
Open a Managed portfolio, then move your cash into the portfolio you are matched to (using our step-by-step guidance).
*Our Managed service has a 0.25% annual fee, and ETF costs also apply. Your capital is at risk. The value of investments can go down as well as up, and you may get back less than you invested.
Option 2: Move to our DIY service
If you’d prefer to choose and manage your own ETF investments, you can:
Open a DIY portfolio, then transfer your LifePlan balance across, following our step-by-step guidance.
*Our DIY service has a zero annual fee, but ETF costs also apply. Your capital is at risk. The value of investments can go down as well as up, and you may get back less than you invested.
Option 3: Withdraw or transfer to another provider
If you would prefer to invest elsewhere, you’re welcome to transfer your funds or withdraw them.
You can choose to:
- Transfer to another provider
If you’d prefer to move elsewhere, we can help you with the transfer. Contact your new provider to start the transfer; they will handle the process electronically. For more information you can find it at SIPP transfers, ISA transfers, or contact client support in regard to GIA transfers at support@investengine.com.
Typical timescales: SIPP transfers are usually completed in 6 weeks, ISA transfers within 5 working days, and GIA transfers within 21 working days.
- Withdraw your full balance
For GIA portfolios: Your investments within this portfolio will be sold to cash and sent to your bank account which usually takes 7-10 business days. Request a full withdrawal
For ISA portfolios: Your investments within this portfolio will be sold to cash and sent to your bank account which usually takes 7-10 business days. Once the money is paid to your bank, it will no longer have ISA tax‑free status. You can only pay it back into an ISA if you have enough ISA allowance available for the current tax year. Request a full withdrawal
For SIPP portfolios, you may not be able to withdraw your balance immediately. Pension access is usually only available from age 55 (rising to 57 from 6 April 2028, unless an exception applies), and withdrawals may have tax implications. Before requesting a SIPP withdrawal, you may wish to speak to a financial adviser.
For more information, refer to our relevant guidance or contact our Client Support team at support@investengine.com. Please note that we are not able to give you tax advice. There are no charges for withdrawals and transfers out.
Option 4: Top up another portfolio
You may use the funds from this portfolio to top-up another DIY or Managed* portfolio you may have. For more information, please visit Top Up another portfolio.
*Our Managed service has a 0.25% annual fee, and ETF costs also apply. Your capital is at risk. The value of investments can go down as well as up, and you may get back less than you invested.
Savings Plans
If you have a Savings Plan or regular contributions (for example a direct debit) set up to fund your LifePlan portfolio, these will stop as part of the closure. We'll cancel Savings Plans linked to LifePlan portfolios on or shortly after the closure date so that you're not continuing to pay into a service that has been retired.
Any money that reaches your account after your LifePlan portfolio has closed will be held as cash (which does not earn interest) until you decide what to do with it.
If you'd like to keep investing regularly, you can set up a new Savings Plan once you've opened your Managed or DIY portfolio. You'll need to set this up yourself, as existing Savings Plans won't carry over automatically.
What happens if LifePlan clients don’t do anything?
If we haven't heard from you by the 7th December 2026, we will sell your remaining LifePlan investments and move the cash to your DIY cash account.
This applies to all LifePlan portfolios that haven't been actively moved or transferred by the deadline, including GIA, ISA and SIPP portfolios.
Your cash will be held within the same tax wrapper:
- For ISA – the cash stays within your ISA.
- For SIPP – the cash stays within your SIPP (normal pension rules on access continue to apply).
- For General Investment Account (GIA) – the cash is held in your GIA cash account.
Remember, any cash in your account doesn’t earn interest.
If you start one of the options above before the deadline, that will prevent the automatic selldown, even if the transfer itself takes several weeks to complete.
A quick reassurance about ownership - Your money remains yours. This change does not affect your ownership of your assets; it only affects the LifePlan service they currently sit within. Your cash remains covered by the FSCS protection.
Tax
The tax treatment of any investment sale or placing funds into another wrapper depends on your individual circumstances, including the nature of the original investment and your wider tax position. We are not able to give you tax advice. Before making any changes, you may wish to speak to HMRC or an independent tax adviser to help you decide which option will best suit your needs.
Need help?
If you would like to discuss any aspect of the service closure, your account more generally, or are dissatisfied with the outcome, our team is available at support@investengine.com and will be happy to assist.
Capital at risk. The value of your portfolio with InvestEngine can go down as well as up. You may get back less than you invest. Past performance is not a reliable indicator of future results.
This communication is for general information only and does not constitute personal advice. If in doubt you may wish to consult a professional adviser for guidance.