Transfer investments to the Modular iPlan
If you have investments held with other providers, it’s possible to transfer them to the James Hay Modular iPlan. This allows you to keep all your investments in one place, access the extensive choice of investments supported by James Hay and monitor performance and manage investments, all online.
- Transferring pensions to us – We can accept transfers from any other registered pension scheme into the Modular iSIPP, including pensions you have already taken an income from. Transfers can be made as cash or as existing investments (an 'in-specie' transfer Where a pension or Individual Savings Account (ISA) is transferred to another scheme with the underlying investments intact. Whether or not an in-specie transfer can go ahead will depend on whether the receiving plan can support the same investments as the previous scheme. See also Cash transfer. ), provided they can be supported by James Hay. It is very important to ensure that a pension transfer is appropriate and that you won’t lose any guaranteed income or safeguarded benefits Pension benefits that are assured to a scheme member such as a pension income that guaranteed to be calculated as a proportion of salary (a defined benefit pension) or a guaranteed annuity rate. If an individual chooses to transfer their pension to another provider or plan, it is important to check if any safeguarded benefits will be lost. by transferring out. We can only accept certain pension transfers if recommended by a regulated adviser.
- Transferring ISAs to us – Individual Savings Accounts A savings and investment scheme set up by the government that allows a certain amount to be invested each tax year, with proceeds free of income tax and capital gains tax. Depending on what they invest in, ISAs can be classified as cash ISAs (for savings and deposits) and stocks and shares ISAs (for stockmarket-linked investments). (ISA) taken out with other providers can be moved into the Modular ISA without affecting your current year’s ISA allowance, providing you make a formal ISA transfer request to us.
Please note: you must set up a Modular iSIPP before you can apply for a Modular ISA.
- Transferring other investments to us – Funds and other investments not held in an ISA or SIPP can also be transferred to us using the Modular General Investment Account, or GIA. You can transfer their cash value or re-register existing investments provided they can be supported by James Hay. See the Modular GIA Permitted Investments List for further details.
Please note: you must set up a Modular iSIPP before you can apply for a Modular GIA.