Withdrawals and account closing

Information on making withdrawals from our Pension can be found here.

Here you’ll find information on what events result in the closure of a client’s account and some administrative details relating to these accounts.

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• Events resulting in an account closure
• Administrative details

Accounts are closed in the following circumstances:
 

• When it has zero holdings and has been inactive for 12 months
• Following a full re-registration or transfer out 
• When a Junior ISA account reaches maturity and the investments are transferred to an ISA
• When a Junior Pension account reaches maturity and the investments are transferred to a new pension account
• When a client has died and the assets are transferred to another account either with us or with another provider
• Following an internal stock transfer to amalgamate holdings in an account.

Please note the following in relation to closed accounts:
 

• Following a written instruction for a full redemption, an account will not automatically be closed. This is so subsequent income distributions, for example, can be credited to the account. Any cash paid into a closed account from an income distribution, corporate action income, rebate and/or tax reclaim will either be moved to another account the client has or paid to the client (or third party if assets have been reregistered/transferred away from us) via cheque, BACS or CHAPS.
• Historical valuations and transactions can be viewed for a closed account, but the account cannot be re-opened for investment. A new account needs to be created for new investments.
• We do not support information only or servicing requests on closed accounts. Only the client can access this information through their online account or by contacting us.