Transfer of company pension to SIPP

boglehead

After spending a bit of time looking for an answer in the archive of this (amazing) forum, I am still not sure about the answer.

Both my wife and I are paying a portion of our salary in a company pension scheme, that is matched 100% by my employer.

I already know that I do not want to buy an annuity when I retire (in 15/20yrs) - so am I allowed to transfer my pension from a company scheme to a SIPP (at a broker like HL etc...) right before retirement? Or is there a law preventing to transfer company pension pots out to privately managed SIPPs?

The funds offered by the company aren't great and have high TER (1%) - so having our pensions into a SIPP would also give me the flexibility to invest in ultra low cost ETF (vanguard for example).

Thanks for your guidance,

dunstonh

so am I allowed to transfer my pension from a company scheme to a SIPP (at a broker like HL etc...) right before retirement?

You would normally wait until after the last employer contribution is received. However, yes.

Or is there a law preventing to transfer company pension pots out to privately managed SIPPs?

No.

The funds offered by the company aren't great and have high TER (1%) - so having our pensions into a SIPP would also give me the flexibility to invest in ultra low cost ETF (vanguard for example).

although a personal pension would likely be cheaper if cost is your main concern.