Wrap help

How do I take a withdrawal?

If you would like to take a withdrawal from your ISA, Personal Portfolio, Bonds, or Wrap Cash, please get in touch with your financial adviser. For information about taking money out of your SIPP, please see the section on drawdown.

When will I receive my withdrawal?

You will receive your personal portfolio or ISA withdrawal 10 working days from when your adviser instructs it on the Wrap platform.

How do I make a payment in?

If you would like to make a payment into your Wrap account, please get in touch with your financial adviser.

Can I set up a direct debit or standing order?

We do not accept standing order payments. If you would like to contribute regularly into your Wrap Account, please speak to your financial adviser. If we don’t have one on file, we will need a Direct Debit Mandate signed and posted to: Aberdeen Client Servicing, Sunderland, SR43 4EE.

When will my direct debit collect from my bank account?

You can select a payment date from the 1^st to the 28^th of the month as your direct debit collection date. These take some time to process so please keep these timescales in mind:

• If it is a new direct debit instruction (DDI), we will need to receive the Direct Debit Mandate no later than 11 working days before the collection date.
• When there is an active instruction, we must receive any changes at least 6 working days before the collection date.
• If you have an active DDI on your Wrap account but we have not collected from your bank within the last 6 months, we will need to re-instate the instruction. This will add an extra 2 days to the timescales for collection.
• Timescales for Wrap Bonds differ, please call 0345 279 1001.

When should I see my payment applied to my Wrap account?

You will see your payment applied to your Wrap account within 3 working days of it having been received. It is important to be aware that different banks process payments using different timescales. Check with your bank to find out how long it will take for us to receive the payment.

How can I add / remove / update my bank details?

If you would like to add new bank account details to your Wrap account, please contact your financial adviser.

If you would like to verify a bank account for withdrawals, you will need to provide your adviser with evidence that proves your ownership of that bank account. They can then call us to verify it on your Wrap account.

It is also important to note that we can only verify bank accounts for withdrawals if the name matches the one on the Wrap account. This means we can only use your personal bank account, or a joint account which includes your name, when processing a withdrawal. Third party bank accounts cannot be used for withdrawals. This is for your protection as well as ours.

Can I transfer my Wrap products to another provider?

Yes. If you would like to transfer some or all of your products to another provider, we suggest you speak to your financial adviser. If you would prefer to instruct the transfer yourself, you will need to contact that provider and they will go through the process with you. They will then send the transfer request to us on your behalf.

This does not include bonds as these cannot be transferred.

Can I transfer existing products into my Wrap account?

Yes. Please speak to your financial adviser who will be able to set this up for you.

Bonds cannot be transferred onto the Wrap platform.

What are your collection account details?

SIPP Collections
Account number: 42288230
Sort code: 40-03-28
Payment reference: Plan No / Surname

Wrap Collections (all other products)
Account number: 02288311
Sort code: 40-03-28
Payment reference: Plan No / Surname

Our bank: HSBC Bank Plc, 31 Holborn, Holborn Circus, London, EC1N 2HR.

If you would prefer to send a cheque, please make these payable to: Standard Life Savings Ltd. and post them to: Aberdeen Client Servicing, Sunderland, SR43 4EE.

When can I start taking money from my pension?

The normal minimum pension age (NMPA) is the earliest age at which you can access your pension savings. The age is set by the government and is currently 55. But from 6 April 2028, the NMPA will increase to 57, meaning you'll have to be 57 or older to take money from your pension. Speak to your financial adviser to find out more about the changes to normal minimum pension age and how they might affect you.

How do I set up, amend, or stop my drawdown?

If you would like to instruct your first move to drawdown, including taking Tax Free Cash, please speak to your financial adviser. Keep in mind, you normally cannot take money out of your pension until you are 55 (57 from April 2028).

If you would like to change your regular drawdown instruction, or take a single payment, your adviser can instruct this for you. If you would like to instruct this yourself, please call our Wrap Client Engagement Hub on 0345 279 1001. Call charges will vary.

How do I take TFC?

Your adviser can instruct this for you. If you would like to take out Tax Free Cash (TFC) yourself, please call our Wrap Client Engagement Hub on 0345 279 1001. Call charges will vary. You can only do this if your SIPP is already in drawdown.

How much TFC do I have?

You can view how much TFC you have remaining on the portal – simply go to the Account details section and select SIPP account details to view your balance. If you have a protected lump sum and death benefit allowance (LSDBA), your TFC may not show correctly. Please call the Wrap Client Engagement Hub on 0345 279 1001 to confirm the TFC you have remaining.

When will I receive my drawdown income?

You will receive your drawdown income within 10 - 12 working days of giving us your instruction. If you have requested a tax free cash single payment, you will receive this within 6 - 8 working days of your instruction. If you have set up regular drawdown income, you will receive your monies on the selected date, keeping in mind the timescales above.

What if my income payment date falls on a weekend or bank holiday?

If the expected payment date for your income falls on a weekend or bank holiday, you will receive your drawdown monies on the previous working day.

Your allowances

You have three allowances:

• a lump sum allowance: This is the maximum amount of lump sum payments you can receive from all your pensions without incurring an income tax charge.
• a lump sum and death benefit allowance: This is the maximum amount of lump sum payments you or your beneficiaries can receive from all your pensions without incurring an income tax charge.
• an overseas transfer allowance: This is the maximum amount that can be transferred to a Qualifying Recognised Overseas Pension Scheme without incurring a tax charge.

If you would like to know how much of your allowances you have used from your Wrap SIPP, please call the Wrap Client Engagement Hub on 0345 279 1001. Call charges will vary.

What funds are available to me?

Please speak to your financial adviser about what funds are available and which fund selection is right for you.

How do I place a buy / sell / switch?

Your financial adviser can instruct a buy, sell, or switch of funds. Please contact your adviser to discuss your options and to instruct a trade.

When is the deal priced?

You will get the price available at the next Valuation Point after your deal has been placed. These differ for each fund.

How long do deals take to complete?

Once deals are placed by your adviser, mutual funds take 3-5 working days to fully settle and insured funds take 2 working days to settle. There can only be one deal ongoing at any time per fund. This means you must wait for the sale of a fund to settle before you can sell further units of that fund.

Can I update my personal or contact details?

Yes. Your adviser can update this directly on the Wrap platform. You can also give us a call on 0345 279 1001 to let us know and we will update your account. Call charges will vary. We will require evidence for some changes, such as change of name or National Insurance Number (NINO).

How do I report a death?

We’re sorry to hear your loved one has passed away. Your financial adviser or solicitor can contact us on your behalf or you can give us a call on 0345 279 1001 and we can discuss the next steps with you. Call charges will vary.

Can I update the named beneficiary on my Self Invested Personal Pension (SIPP)?

Yes. We require a signed Death benefit nomination form (PDF) in order to add a beneficiary to your SIPP. If you would like to remove an existing beneficiary, please confirm this in a signed letter. Forms and letters should be posted to: Aberdeen Client Servicing, Sunderland, SR43 4EE.

I’m getting divorced, what do I need to do?

In order to allocate pension monies following a divorce we normally require a Pension Sharing Order. There are also other legal documents required, depending on which country’s courts have confirmed the divorce. You should speak to your solicitor or financial adviser about what is required.

If you would like information about how we process Pension Sharing Orders, please call the platform support team on 0345 279 1001. Call charges will vary.

How do I close my Wrap account?

We will need a signed instruction from you to close your plan. You will also need a bank account that has been verified for withdrawals on your Wrap account in order for us to send your monies to you. Please include the following in your letter and post it to: Aberdeen Client Servicing, Sunderland, SR43 4EE .

• Name
• Contact details 
• Plan number
• Confirmation which sub-account is to be closed (ISA/PP/entire Wrap account)
• Which bank account we should pay out to (this cannot be a third party bank account)
• Your signature

If your account balance is less than £250, you can tell us over the phone that you would like us to close the account. This process does not apply to SIPPs. You must transfer your plan to another provider or take drawdown. Please call our Wrap Client Engagement Hub on 0345 279 1001. Call charges will vary.

We will pick up this request within 5 working days of receiving it. If you have investments, we will need to sell them down to cash before paying the proceeds to your verified bank account. It can take 10-18 working days to complete an account closure from when we receive your instruction.

Closing a Wrap account is different from transferring it to another provider. If you would like to transfer your Wrap products, please see the section on Withdrawals, payments, and transfers.

We refer to our standard charges and rates. Please speak to your adviser to confirm the charges and rates applicable to you.

How is my platform charge calculated?

The platform charge is calculated monthly, based on the value of your Platform Eligible Assets (PEAs) on the last working day of the previous month. This calculation is done for each product held on the Wrap platform. The charge is equal to 1/12^th of your annual platform charge, as shown on your Summary of Charges document.

Your annual platform charge is calculated on a tiered basis. The charge may change as your Wrap account value increases or decreases. If you have any questions about your platform charges, please speak to your adviser or call the Wrap Client Engagement Hub on 0345 279 1001. You can also refer to your Terms and Conditions (PDF).

From April 2020, the Wrap platform charge has been reduced and simplified from 6 tiers to 4. The starting rate for the platform charge has been reduced from 0.40% to 0.35%. The annual product administration charge for the Wrap SIPP has also been reduced from 15% to 5%. For a breakdown of Wrap product and platform administration charges, please visit our Wrap info page.

How is my platform charge paid?

The platform charge is deducted from your Wrap account on the 5^th of the month.

The platform charge is applied to your Personal Portfolio (PP) and/or ISA are deducted from your Wrap Cash account. In the case where there are insufficient funds in Wrap Cash, the platform will move cash from within PP or ISA cash into wrap cash. If there isn’t enough cash available in your PP or ISA, investments will be sold down to cover the charge. This process is called auto-disinvestment.

The platform charge on your SIPP are deducted from the cash account within your SIPP. SIPP charges cannot be taken from Wrap Cash. When there is insufficient cash within your SIPP to cover your platform charge, investments will be sold down to cover this.

For more information about charges, including the platform charge, product administration charge, dealing charges, and auto-disinvestment please speak to your financial adviser or call the Wrap Client Engagement Hub on 0345 279 1001.

How are my Ongoing Adviser Charges (OAC) calculated?

SIPP: Your SIPP OAC is calculated based on the value on the morning of your policy anniversary date. Depending on the frequency of your OAC, this could mean that it is calculated monthly, quarterly, semi-annually, or annually on the date you opened your SIPP. The charge will be equal to the annual % OAC divided by the frequency of the charge. For example, if your adviser takes a monthly fee, each month we will pay out 1/12th of the OAC.

Personal portfolio & ISA: The OAC for all other products is usually calculated based on the value of your account on the morning of the charge due date. The charge will be equal to the annual % OAC divided by the frequency of the charge. For example, if your adviser takes a monthly fee, each month we will pay out 1/12th of the OAC. Your adviser may also choose to take a fixed fee.

If you have any questions about your OAC, please speak to your financial adviser.

How are my adviser charges paid?

Those charges applied to your Personal Portfolio, ISA, and the Onshore bond are deducted from your Wrap Cash account. In the case where there are insufficient funds in Wrap Cash, the platform will move cash from the product into Wrap Cash. If there is not enough cash available in your PP or ISA, investments will be sold down to cover the charge. This process is called auto-disinvestment.

Adviser charges for the Wrap SIPP or Offshore bond can be deducted from the cash account within the product or from Wrap Cash. You should discuss with your financial adviser which option is best for you.

For more information about auto-disinvestment, call the Wrap Client Engagement Hub on 0345 279 1001. If you have any questions about adviser charges, please speak to your financial adviser.

Where can I see my charges being paid?

Depending on your level of access, you may be able to view your charges being deducted from your account on the Transaction history tab on the portal – make sure you have set your view to ‘Cash’. You can also see this on your Statement.

If there has been insufficient cash in Wrap Cash to fund PP and/or ISA platform charges, you will see the narration: ‘Cash movement to fund Wrap Cash’. This is the platform moving cash from your product into Wrap Cash in order to take the charge as they are not taken directly from the ISA or PP.

What is the drawdown price lock?

From April 2020, the Aberdeen Wrap is offering a ‘Drawdown price lock’ which allows your adviser to ‘lock in’ your platform charge at its current rate. The price lock takes into account the value of all platform eligible assets (PEAs), but only applies to the Wrap SIPP and can only be used when your SIPP is in drawdown. The platform charge for your other products will continue to change as the value of your PEAs changes.

The drawdown price lock might not be suitable at this time and mat not be right for everyone. Please speak to your adviser for more information or to request a price lock. There may be a charge for this.

What interest rate is paid on cash accounts?

Each Wrap client automatically has access to a Wrap cash account. In addition, the Wrap platform also operates cash accounts at a product level.

The annual gross interest rate we pay to clients on product level cash accounts is calculated with reference to the Bank of England base rate. This means that you can always work out what the interest rate paid will be, using the table below (paid rates are rounded up to the nearest 0.01%).

For example, under the base rate announced on 8th May 2025 of 4.25%, the rate we pay to customers on product level cash accounts is 2.03% per annum. This is calculated as 0% of the first 1.10%, plus 50% of the next 0.90%, plus 70% of the next 2.25%; i.e., 0.00% + 0.45% + 1.58% = 2.03%.

Please note that the paid rates for the International Portfolio Bond (IPB) will also adopt the rates shown in the table above, but only up to a Bank of England base rate of 2.65%. Any increase above this rate will result in a paid rate of the Bank of England base rate less 1.75%. This will ensure the paid rate for the IPB will always be the same or better than illustrated in the rates shown in the above table. At the current Bank of England rate, this means that the interest paid on the IPB will be 2.50%.

What is the Cash Management Administration Charge (CMAC) applied to my cash accounts?

The rate we earn from our banking partner(s) may be higher or lower than base rate and may vary daily. We retain any additional interest earned as a margin to cover costs in managing cash and undertaking certain platform services in respect of cash holdings. We call this margin the Cash Management Administration Charge (CMAC). The CMAC is taken directly from the interest received from the bank(s), so will not appear as a separate charge.

How do I register for online services?

You can now register for online access through our new secure provider, Okta. If you have not previously had Wrap online access, please speak to your adviser first as they will need to set you up with a profile.

How do I login to my online account?

Please contact your adviser for their website link to your online account. If you already have the URL, go to the login screen, select ‘Client Login’ and follow the instructions. If you have never been set up with a Wrap login account before, please call your adviser to be signed up with access.

Account suspended or forgot your username, password or both?

If you’ve forgotten your password, go to your login page and select the ‘Forgot password’ link. If you’ve forgotten your username, please call the Wrap Client Engagement Hub on 0345 279 1001.

I need help using the site. What should I do?

You can give our Wrap Client Engagement Hub a call on 0345 279 1001 and we will be happy to provide you with any guidance or information you need about my online account.

What is Okta?

Okta is our new online access provider. The Okta sign-in system provides secure connection between you and your Wrap account information. Okta protects your information with extensive security measure and controls that are audited by third parties. You can have confidence that your details are safe and secure.

What is my tax code?

You can view the tax code we currently hold for you on your online account – simply click on the link to open your SIPP account details.

If you feel the tax code we hold is incorrect, please contact HMRC on 0300 200 3300, call charges will vary. Unfortunately we are unable to accept any changes to your tax code over the phone or via post – these must come from HMRC directly.

Why am I on this tax code?

HMRC provide us with your tax code electronically and automatically. If you have recently taken drawdown for the first time, you may be on an emergency tax code. This is temporary and will be updated once HMRC have a better idea of your income.

How do I reclaim tax on an income payment from my SIPP?

If you feel you have been over-taxed and have received a single payment under flexi-access drawdown, you can apply for a refund through HMRC.

If would like to reclaim tax on single or regular payments under capped drawdown, or for a regular payment under flexi-access drawdown, please contact HMRC on 0300 200 3300. Call charges will vary.

You will require our PAYE reference which is: 961/FZ56287.

Can I get a copy of my P60?

Your P60 is issued to you annually around mid-April. A copy is also stored in your document library on my online account. Alternatively, you can give our Wrap Client Engagement Hub a call on 0345 279 1001 and request that we send you a new copy in the post. Call charges will vary.

Can I get a statement of my SIPP contributions?

Yes, please call our support team on Aberdeen Client Servicing, Sunderland, SR43 4EE and they will be happy to issue a contribution statement to you in the post. This is different from your annual statement. Call charges will vary.

What is the annual ISA allowance for this tax year?

The annual allowance for ISA contributions for the current tax year is £20,000. This can be divided over different ISAs, but not two of the same kind. This means you can contribute into a cash ISA and a stocks and shares ISA, but not into two different cash ISAs, or two different stocks and shares ISAs in the same tax year. Find out more about the ISA allowance on HMRC’s website or speak to you financial adviser.

Costs and Charges Disclosure (CCD)

This is an annual document which will be sent to you around the start of each year. This document provides a summary, in monetary and percentage terms, of the charges you paid over the preceding 12 months. This way you can more easily keep track of how much you are paying in fees.

Charges summary

Your Charges Summary is a snapshot of your annual fees as a percentage figure. The platform charge is calculated on a tiered structure and can change as the value of the investments in your Wrap account increases or decreases. For more information about your charges summary, please speak to your financial adviser, or call the Wrap Client Engagement Hub on  0345 279 1001.

Charges Information Document (CID)

A Charges Information Document is produced when you are buying or switching into a fund you don’t already hold. This shows your charges on a transactional basis and is calculated differently than your Charges Summary. We will send your CID as a password-protected document after we have taken your instruction. This will be sent along with any KIIDs if applicable. If you would like more information about your CID, please call our Wrap Client Engagement Hub on 0345 279 1001. Call charges will vary.

Statements

Your statement provides you with a detailed breakdown of all of the transactions which occurred on your Wrap account within the time frame stated on the first page. Your statement will show you: charges, money in/out, cash transfers between Wrap products, the purchase and sale of investments, as well as an opening and closing value for the period.

For ISAs and Personal Portfolio, we provide statements on a quarterly basis. For the SIPP, Onshore bonds, and Offshore Bonds, these are provided annually. Unfortunately we cannot generate ad hoc SIPP/Onshore/Offshore bond statements.

Contract notes

Your contract notes are evidence of the purchases or sales of mutual funds or securities on your Wrap products. Your contract note shows you which fund(s) were sold, how many units, what that unit price was at the time of sale, and the settlement date of the transaction. By ‘settlement date’ we mean the date that the transaction was completed, or in other words, when the cash from a sale is available to use or the fund you purchased has now been fully registered in your name. The settlement date is not the same as the date of the actual purchase or sale of the fund(s).

Can I go paperless / turn off contract notes?

Yes. If you would like to go paperless please speak to your adviser to understand what documents can be stored digitally.

If you have not opted out of contract notes, we can switch those off for you as well. Due to the nature of the document, these are not automatically switched off when you go paperless. Documents will be available for you to download from the Document Library on the portal. Unfortunately, we cannot send these documents via email as this is not a secure method of communication.