Hornbuckle, traditionally known as Hornbuckle Mitchell, was historically one of the UK’s most specialised SIPP and SSAS providers. In recent years, it has undergone a significant transformation: first being acquired by the Embark Group and subsequently becoming part of Lloyds Banking Group following their 2022 acquisition of Embark.
In 2026, Hornbuckle as a standalone brand has largely been integrated into Embark Pensions. While original Hornbuckle policies are still active and "closed to new business" under their original terms, the administration is now powered by Embark's modern technology and backed by the massive financial strength of Scottish Widows (Lloyds Banking Group).
If you have an old Hornbuckle pension and need independent advice about your options, get in touch below to speak to an independent financial adviser.
Get 100% independent pensions advice today
Our independent financial advisers have a deep working relationship with pension providers across the UK, including Hornbuckle.
Whether you want to transfer your pension to Hornbuckle or have an existing pension with then that you want to get the most out of, we can help.
The IFA's we work with can provide independent advice about pension transfers, reviews, drawdown, annuities and much more. Book your free initial consultation with them below:
Hornbuckle Pension Products & Transition
If you have a legacy Hornbuckle Mitchell pension, it is likely one of the following:
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Hornbuckle Mitchell SIPP: A highly flexible "Full SIPP" often used for complex assets like commercial property, unquoted shares, or specialised discretionary fund management (DFM).
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The Private Pension: A simpler personal pension structure that still offered more investment choice than standard insurance-company pensions.
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SSAS (Small Self-Administered Scheme): Specialist business pensions popular with company directors for purchasing their own trading premises or making employer loans.
Current Status (2026): These products are now managed via the Embark Pensions portal. While the underlying "Hornbuckle" rules may still apply to older accounts, the day-to-day management is handled by Embark’s teams in Leicester and Bolton.
Putting a Hornbuckle Pension into Drawdown
Hornbuckle was built for retirees with complex needs, and that expertise remains under the Embark brand. The following drawdown options are available:
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Flexi-Access Drawdown: You can move your SIPP into drawdown, usually taking 25% tax-free cash (PCLS). The remainder stays invested to provide a flexible taxable income.
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Complex Asset Income: Unlike basic providers, Hornbuckle/Embark excels at managing drawdown where the income is funded by commercial property rent or dividends from private investments.
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Phased Drawdown: You can move small "slices" of your pension into drawdown over several years, which is a highly effective way to manage your income tax and keep your money in the most tax-efficient "pension wrapper" for as long as possible.
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UFPLS (Lump Sums): You can take one-off "chunks" of cash directly from your pot without a formal drawdown setup. Each chunk is 25% tax-free.
Reviewing an Existing Hornbuckle Pension
If you still have an original "Hornbuckle" policy, a professional review is strongly advised for several reasons:
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Fee Consolidation: Legacy Hornbuckle fees were often complex (e.g., separate charges for property, borrowing, and bank accounts). Embark has streamlined many of these, and a review can determine if you would save money by moving to a modern Embark Option SIPP.
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Tech Migration: Many old paper-based Hornbuckle records have been migrated to digital. A review ensures your online access is active, your beneficiaries (Expression of Wish) are correctly recorded, and your contact details are current.
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Asset Eligibility: From April 2024, new rules were introduced regarding "non-standard investments." If your SIPP holds niche assets, a review will confirm if they are still compliant with 2026 regulatory standards.
Transferring To and From Hornbuckle (Embark)
Transferring INTO Hornbuckle/Embark
While the "Hornbuckle Mitchell" brand is closed to new users, you can transfer old pots into a modern Embark SIPP.
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Specialist Transfers: They are one of the few providers that can handle In-Specie transfers of commercial property, allowing you to move your business premises from one SIPP to another without selling it.
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Timing: Cash transfers via the Origo network typically take 10 to 15 working days.
Transferring OUT
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Portability: You are free to move your funds to a new provider at any time.
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Exit Fees: Modern Embark SIPPs typically have low exit fees (around £115 + VAT for closure), but very old legacy Hornbuckle policies may have higher manual administration costs for transferring property or complex assets.
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Due Diligence: From 2026, transferring out of a SIPP involves stricter "red and amber flag" checks to protect you from pension scams, which can sometimes add a week to the transfer time.
Pros, Cons, and Customer Reviews (2025-2026)
The Pros
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Massive Financial Strength: Now backed by Lloyds Banking Group (Scottish Widows), providing ultimate peace of mind for your savings.
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Specialist Expertise: Still one of the best for business owners holding commercial property in their pension.
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Digital Improvements: The move to Embark’s platform has made online tracking much easier than the old Hornbuckle paper systems.
The Cons
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Complex Fee Schedules: For Full SIPPs, fees can still be high if you have multiple assets or property holdings.
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Admin Delays: During the 2025 integration phase, some users reported delays in reaching customer service by phone, though wait times have improved in 2026.
What Customers are Saying
"The transition from Hornbuckle to Embark was a bit rocky with the paperwork, but the new online portal is miles better. I can actually see my property value and cash balance in one place now." — Trustpilot Review, Jan 2026
How Our IFA Service Can Help
At Money Helpdesk, we connect you with Independent Financial Advisers (IFAs) who specialise in complex SIPP and SSAS management.
Our IFA service helps you by:
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Legacy Fee Audit: Calculating if your old Hornbuckle fee structure is still the most cost-effective for your 2026 balance.
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Property Management: Ensuring your SIPP property is compliant with the latest environmental and tax regulations.
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Exit Strategy: Helping you plan the most tax-efficient way to take income from a complex "Full SIPP."
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Market Comparison: Comparing Hornbuckle/Embark’s specialist services against other Full SIPP providers like Mattioli Woods or Curtis Banks.
Get started here to begin a free, no-obligation chat with an independent financial adviser who specialises in Hornbuckle pensions and can go through all of your options with you.