Hargreaves Lansdown Drawdown Application

sparky0138

My mum applied for an UFPLS with Hargreaves Lansdown for the first time during the last tax year and she'd like to apply again this year. It's a cash SIPP that's still open and she's going to pay in the £2880 so she can get the tax relief.

On their website it says:
Already in drawdown?
If you hold an existing phased drawdown arrangement (where you’ve previously moved part of your SIPP into drawdown) you are unable to request an application pack through our website. Please contact us and we’ll send you everything you need.

Can anyone tell me please, does her previous application mean that she now holds an existing phased drawdown arrangement and therefore won't be allowed to apply online?

Albermarle

Are you sure the statement ( in bold) is not referring to people wanting to transfer their pension to HL ?

sparky0138

Albermarle said:

Are you sure the statement ( in bold) is not referring to people wanting to transfer their pension to HL ?

It's here (near the bottom).

MK62

Notwithstanding Albemarle's question, if she has only taken an UFPLS it does not mean she now has a phased drawdown arrangement.....she does not......she hasn't actually gone into drawdown yet.......however, you have to fill a form in each year (or phone in and they'll do it live) to "apply" for the UFPLS payment....there is no way to do this via the website.

sparky0138

Thanks, MK62. She has only taken an UFPLS. I realise she'll have to fill a form in that she'll get through the post, it was the risk questions and the application for the form itself that I asking if she could still do online, given that she did this last year. I was just checking in plenty of time before the end of the current tax year.

squirrelpie

The steps for a UFPLS are on https://www.hl.co.uk/retirement/ufpls  H-L at least view them as separate from drawdown. Note that HL have been making changes to their drawdown procedure so you can do it online in some circumstances but I think the UFPLS procedure is the same as last year. Don't leave it to the last minute.

Albermarle

sparky0138 said:

Albermarle said:

Are you sure the statement ( in bold) is not referring to people wanting to transfer their pension to HL ?

It's here (near the bottom).

Looks like my guess was wrong, and it is regarding existing customers.