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Accessing your pension

We know you have saved hard for your retirement, therefore we want to give you as much flexibility as possible when you decide to take an income.

Capital Gateway Bank SIPP Account


You can be flexible when it comes to accessing your pension savings.

Take all of your savings in one go (typically for very small pension pots).

Take smaller lump.

Take a regular income.

IMPORTANT! Read the SIPP Key Facts and our Charges Guide for all the details and before you make up your mind if our SIPP Account is right for you.

Important information


Please remember the value of your investments and any income from them can go down as well as up. The value of your fund may be less than you paid in.

Before you choose a SIPP, make sure you understand its aims and risks. Capital Gateway Bank does not give advice. If you are unsure whether our SIPP is suitable for you, of the risks and commitments of investments and or of how much income to take and when, you should seek professional financial advice specific to your particular circumstances.

A SIPP requires active management and investment expertise. You should make sure you review your investments regularly.



Read our guide to Accessing your Pension Savings

You are in control

You are in control and there are no limits to how much you can access at any one time, although you normally have to be at least 55 to access your pension savings.

So we know when to write and remind you of your options, we ask you for a planned retirement age. But you can change it at any time.

You can take everything in one go if you like. But only a quarter of your savings can normally be paid tax free. The rest is taxed as income in the tax year (or years) it is paid out to you.

And, of course, once your savings are gone they are gone. You will have to manage financially without them for the rest of your life.

Getting down to details


There are different methods you can use to access your pension savings. Our glossary might help if you’re not familiar with these terms.

Capital Gateway Bank Flexi-access drawdown

This option is available to all individuals of minimum pension age.

Uncrystallised Funds (UFPLS)

This option is available to all individuals of minimum pension age.

Capped Drawdown

Only available to individuals who were in capped drawdown prior. We can accept transfers in of any existing capped drawdown benefits.

Lifetime annuities

This option is available to all individuals of minimum pension age. We don't offer annuities, but we can buy one from another company on your behalf