Pension withdrawals and account closing

We also cover UFPLS and other pension withdrawals here, such as Small Pots and early retirement through ill health or serious ill health.

Accounts are closed in the following circumstances:

• When it has zero holdings and has been inactive for 12 months
• Following a full reregistration 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, 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 received 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.