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• How do I log in?

  Logging in online means you can look after your accounts and trade from your computer, tablet or smartphone. Here’s how to log in.

  Before you start

  You will need your Username, date of birth, Online Password and Secure Number to log in. If you have not set these up yet, you can register for online access.

  How to log in on the website

  1. Select 'Log in' in the top right-hand corner of the website
  2. Enter your Username in the first box. Your Username will usually be a combination of letters and numbers that you created
  3. Enter your date of birth using the format ddmmyy. For example, if you were born on 1 January 1970, enter 010170 without spaces, commas or other characters
  4. Select ‘Continue’
  5. Enter your Online Password. This is a combination of letters and numbers that you’ve created, and contains at least 1 upper case letter, 1 lower case letter and potentially a special character
  6. You will be asked for 3 randomly selected digits from your Secure Number. Your Secure Number is 6 digits that you chose when you set up your security details. Enter these in the correct boxes
  7. Select ‘Log in’
  8. If you have two-factor authentication enabled, we will also send a verification code to your preferred phone number by SMS or call back each time you log in. Enter this code into the box in full and select ‘Log in’

  Log in online

  How to log in on the app

  1. Select ‘Accounts’ in the bottom left corner
  2. If it is your first time logging in, or if you have not saved your details or set up biometric authentication, you will first need to enter your Username. Your Username is usually a combination of letters and numbers that you created
  3. Enter your date of birth using the format ddmmyy. For example, if you were born on 1 January 1970, enter 010170 without spaces, commas or other characters
  4. Select ‘Save my username and date of birth’ if you want to speed up the process in future, then select ‘Continue’
  5. Enter your Online Password. This is a combination of letters and numbers that you created, and contains at least 1 upper case letter, 1 lower case letter and potentially a special character
  6. Select ‘Continue’
  7. You will be asked for 3 randomly selected digits from your Secure Number. Your Secure Number is 6 digits that you chose when you set up your security details. Enter these in the correct boxes
  8. Select ‘Continue’
  9. If you have two-factor authentication enabled, we may also send a verification code to your preferred phone number by SMS or call back. Enter this code in full and select ‘Log in’
  10. You may be asked if you want to set up biometric authentication, either with your fingerprint or facial recognition (depending on the device you’re using). If you do not want to do this, select ‘Not now’

• How do I reset my log in details?

  How to recover your Username

  If you’ve forgotten your Username details, here's how to recover it and log back in to see your accounts in just a few steps.

  Before you start

  If you know your login details and just want to make changes, you can change them in your account without having to reset them.

  How to recover your Username on the website

  1. Select 'Log in' in the top right-hand corner of the website
  2. Select the ‘Forgot your username?’ link
  3. Confirm whether you know your Client Number. You can find it if you’re logged in on the mobile app, or on statements and account letters we’ve sent you
  4. Enter your last name, email address, and either your Client Number or date of birth
  5. Select ‘Continue’ to confirm

  Recover Username

  What happens next

  We will email you your Username.

  Once you have it, you will be able to use it to log in along with your other security details.

  How to reset your Online Password or Secure Number

  If you’ve forgotten your Online Password or Secure Number, here's how to reset them and log back in to see your accounts in just a few steps.

  Before you start

  If you know your login details and just want to make changes, you can change them in your account without having to reset them.

  How to reset on the website

  1. Select 'Log in' in the top right-hand corner of the website
  2. Enter your Username
  3. Enter your date of birth using the format ddmmyy. For example, if you were born on 1 January 1970, enter 010170 without spaces, commas or other characters
  4. Select ‘Continue’
  5. Select ‘Forgot your Online Password?’ or ‘Forgot your Secure Number?’
  6. Enter your security details, including the answer to your chosen security question, and select ‘Continue’
  7. If you have two-factor authentication enabled, we’ll also send a verification code to your preferred phone number by SMS or call back. Enter this code into the box in full and select ‘Log in’
  8. Enter the new Online Password or Secure Number you have chosen
  9. Select ‘Update’ to confirm

  Reset details

  What happens next

  You will be able to log in with your new details once you have finished updating them.

• How do I change my address?

  To update your address:

  1. Log in to your account
  2. Just above the table showing your account(s) and its value, you will see a number of tabs. Click the ‘Account Settings’ tab towards the right hand side of the screen
  3. Select the ‘Personal details and statement delivery’ option on the left hand side of the screen
  4. In the ‘Personal details’ box, click ‘edit personal details’, update as appropriate and click Save

  Please note that we need to conduct an electronic verification check for any address change request. If you are yet to move into your new address, or have only lived there for a short period of time, it is likely that you will not pass the automated process. In the event we cannot verify you electronically, we will contact you to request paper documentation so that we can conduct a manual check.

• How can I view the bank account which is linked to my drawdown account?

  If you have online access, you can view your linked bank account online. Once logged in, select your drawdown account, followed by the ‘withdraw money’ tab. From here you should be able to view your nominated bank account (NBA).

• What are the new allowances?

  There used to be a limit to the total value of pension benefits you could build up throughout your lifetime and generally receive up to 25% tax free. This limit was known as the lifetime allowance and was set at £1,073,100 for most people. However, on 6 April 2024, the lifetime allowance was abolished and replaced with three new allowances. These are the lump sum allowance, the lump sum and death benefit allowance, and the overseas transfer allowance.

  1. The lump sum allowance normally provides an upper limit to the tax-free amount of certain lump sums that can be taken across an individual’s pensions. This allowance is £268,275 for most people. Payments that use up this allowance include pension commencement lump sums (PCLS) and the tax-free element of uncrystallised funds pension lump sums (UFPLS).

  2. The lump sum and death benefit allowance applies to payments that use up the lump sum allowance as well as the tax-free element of serious ill health lump sums and certain non-taxable lump sum death benefits. For most people, this allowance will be £1,073,100.

  3. The overseas transfer allowance provides a limit on transfers to Qualifying Recognised Overseas Pension Schemes (QROPS). This allowance is £1,073,100 for most people. Any value that exceeds this allowance will normally be subject to the Overseas Transfer Charge (OTC).

  To find out more about the new allowances, including how you may be affected if you used lifetime allowance under the previous rules, visit www.hl.co.uk/pensions/contributions/new-lump-sum-allowance.

• What will the new allowances mean for my beneficiaries if they inherit my pension?

  When you die your drawdown pension can be passed to your beneficiaries, in most cases free from inheritance tax.

  Like under the old lifetime allowance rules, if you die before age 75, any lump sums your beneficiaries get that are within your remaining lump sum and death benefit allowance will normally be free of income tax. If any part of the lump sum goes over your remaining lump sum and death benefit allowance, then the excess will normally be taxed as their income. If you die aged 75 or over, your beneficiaries will have to pay income tax at their marginal rate on any lump sum taken.

  Similarly, any income payments your beneficiaries get from a beneficiary drawdown or beneficiary annuity will normally be free of income tax. Unlike with most lump sum death benefits, the amount that can be inherited via beneficiary drawdown or annuity isn’t subject to the new allowances. If you die aged 75 or over, any income payments your beneficiaries get from a beneficiary drawdown or beneficiary annuity will be subject to income tax at their marginal rate.

• How do I nominate a beneficiary?

  You can nominate as many beneficiaries as you like and can change them at any time. The quickest way to do this is through your online account. Just go to ‘Account Settings’ and ‘Manage SIPP beneficiaries’. Though these nominations aren’t binding they do let us know your wishes, which must be considered. If you don’t have online access you can complete an Expression of Wish form.

• Can I still buy a secure retirement income (annuity)?

  You can use the money in your drawdown account to buy an annuity at any time. A sensible approach could be to buy several smaller annuities as you grow older. This could be more beneficial than buying a large annuity all in one go, because the older you are, and the more health conditions you develop, the more income you’re likely to get. Though annuity rates depend on a number of factors.

  More on annuities

• Can I transfer a drawdown pension from another provider?

  Yes. If you have an existing drawdown pension somewhere else, you can transfer this to an HL Drawdown account. If you have any questions about transferring, book a call-back with one of our drawdown experts. They’ll be happy to answer your questions no matter how big or small to help you make informed decisions.

  More on drawdown transfers

Income payment calendar

If you want to make a withdrawal, remember to let us know before the 17th of the month in which you want the payment. You’ll also need to make sure you have enough cash to cover it.

If you need to sell investments to meet an income payment, remember to consider the time it’ll take for the sale to complete and cash to become available (including trade and settlement periods which can change).

View the income payment calendar