Self-Invested Personal Pension (SIPP)

A SIPP is a pension you control. Instead of being tied to whatever your employer or a standard provider offers, you choose where your money is invested, and you still get the same generous tax relief. For the self-employed, higher earners, or anyone who wants more say over their retirement, a SIPP is one of the most powerful financial tools available. We connect you with specialist, FCA-regulated pension advisers who can help you get it right. The introduction costs you nothing; we may be paid a fee by the firm we introduce you to. Pension investments can fall as well as rise, and the money is locked away until at least age 55.

The tax relief that makes pensions so powerful, explained simply If you are a basic rate taxpayer and you put £800 into your SIPP, the government adds £200 in tax relief, so £1,000 goes into your pension. If you are a higher rate taxpayer, you can claim an additional £200 back through your tax return, meaning that £1,000 in your pension effectively cost you just £600. So £1,000 in the pension costs a higher-rate taxpayer about £600. That is tax relief, not an investment return: the money is locked away until at least 55, and three quarters of it is taxed as income when you draw it.

A SIPP works like any other pension in terms of tax relief and the rules around access, the difference is the investment choice. Standard workplace pensions typically offer a limited range of funds. A SIPP opens up the full investment market: thousands of funds, shares, investment trusts, ETFs, and more. That flexibility is powerful, but it also means the decisions matter more, which is why taking advice is so important.

★

Got Old Pensions Scattered Around? We Can Help.

Many people open a SIPP to consolidate old workplace pensions into one place, making them easier to manage and potentially reducing charges. We can introduce you to a specialist who will check each pension for valuable guarantees before recommending any transfer.

Find out about combining your pensions

Who is a SIPP best suited to?

The self-employed

No employer pension? A SIPP is the most flexible and tax-efficient way to build your own retirement pot. Contribute what you can, when you can, and get full tax relief.

Higher and additional rate taxpayers

The higher your tax rate, the more valuable pension contributions become. A SIPP lets you claim full higher rate relief, something not all workplace pensions do automatically.

People with old workplace pensions

Consolidating scattered pensions into a SIPP can simplify your retirement planning, reduce charges, and give you a clearer picture of what you have. An adviser will check for guarantees first.

Investors who want more choice

If you want to invest in specific funds, shares, or asset classes that your workplace pension does not offer, a SIPP gives you the freedom to do so.

People approaching retirement

A SIPP gives you flexible access options, drawdown, annuity, or a combination, so you can structure your retirement income in the most tax-efficient way.

Parents planning ahead

Pensions can be a tax-efficient way to pass wealth on, though most unused pension funds will count towards the estate for Inheritance Tax from 6 April 2027. A SIPP can form part of a wider family financial plan alongside ISAs and Junior SIPPs.

How tax relief works, a real-world example

Meet Sarah, a self-employed graphic designer, higher rate taxpayer

Sarah earns £60,000 a year and wants to put £10,000 into her SIPP this tax year.

She pays £8,000 into her SIPP. Her provider automatically claims basic rate tax relief of £2,000 from HMRC, so £10,000 goes into her pension.

Because Sarah is a higher rate taxpayer, she can claim an additional £2,000 back through her self-assessment tax return. So her £10,000 pension contribution effectively cost her just £6,000.

That is tax relief rather than an investment return. Her money is locked away until at least 55, and three quarters of it is taxable when she draws it.

Meet James, an employee, basic rate taxpayer

James earns £35,000 and wants to contribute an extra £200 per month to his retirement on top of his workplace pension.

He pays £160 per month into his SIPP. His provider claims £40 in basic rate tax relief automatically, so £200 per month goes in.

Over 20 years, assuming 6% annual growth, that £160 per month could grow to over £90,000. A pot that cost him £38,400 in actual contributions.

SIPP vs workplace pension. What is the difference?

Investment choiceA workplace pension typically offers a more limited range of funds. A SIPP opens up thousands of options, funds, shares, ETFs, investment trusts, and more.
Employer contributionsYour employer's contributions usually go into the workplace pension they offer. A SIPP can work alongside it, not instead of it.
Tax reliefBoth get the same tax relief. But higher rate taxpayers often need to claim the extra relief themselves.
Flexibility at retirementSIPPs typically offer more flexible drawdown options than standard workplace pensions, useful for managing your retirement income tax-efficiently.
ChargesSome SIPPs have higher charges than workplace pensions. An adviser will compare the total cost against the benefits before making any recommendation.
ConsolidationA SIPP is a natural home for old workplace pensions from previous jobs, bringing everything together in one place you control. Find out more about combining pensions.
An older woman painting at home

How to get connected to a SIPP adviser

1

Get in touch

Tell us you are interested in a SIPP and a little about your situation, whether you are self-employed, have old pensions to consolidate, or want more investment choice.

2

We make the introduction

We introduce you to a specialist pension adviser we know and trust. The introduction is warm. They will know your situation before they call.

3

The adviser reviews your full picture

They will look at your existing pensions, your tax position, your goals, and your attitude to risk before making any recommendation.

4

You decide, in your own time

There is no pressure to proceed. The adviser will explain everything clearly and let you make the right decision for your retirement.

Check broadband before you make an offer

Broadband speeds can vary street by street, so check the exact address before you commit. Ofcom's free checker shows which broadband speeds and mobile coverage are available at any UK property.

Check broadband at an address (Ofcom)

Want all your bills in one?

We can introduce you to a specialist who can combine your mobile, broadband and utilities into one bill. There's no fee for the introduction.

We don't provide these services ourselves. Switching household bills is not a regulated financial service, so FCA protections and the Financial Ombudsman do not apply. We'll only pass your details to the specialist if you ask us to. See our privacy notice.

SIPP questions answered in plain English

What does SIPP stand for and what does it actually mean?
SIPP stands for Self-Invested Personal Pension. The ‘self-invested’ part just means you have more control over where your money is invested. You are not limited to the funds your employer or a standard provider chooses for you. Everything else, the tax relief, the rules around access, the 25% tax-free lump sum, works the same as any other pension.
Can I have a SIPP if I already have a workplace pension?
Absolutely. A SIPP works alongside your workplace pension, not instead of it. Employer contributions to a workplace pension are worth weighing before you change anything. A SIPP is a separate pot you control, where you can make additional contributions and potentially consolidate old pensions from previous jobs.
When can I access my SIPP?
Currently you can access your SIPP from age 55. This is rising to 57 in April 2028. You can take 25% of your pot as a tax-free lump sum. The rest is taxed as income when you draw it, so how and when you take it matters a great deal for your tax bill. An adviser will help you plan the most tax-efficient way to access your pension.
What happens to my SIPP when I die?
This is one of the most important, and least understood, features of a pension. If you die before age 75, your SIPP can usually be passed to your beneficiaries completely free of income tax. If you die after 75, it is taxed as their income when they draw it. Crucially, pensions currently sit outside your estate for inheritance tax purposes, though this is changing from April 2027, when unspent pension pots will be included in your estate. An adviser will help you plan around this.
How do I check broadband speed at a property?
Use Ofcom's free broadband and mobile checker at checker.ofcom.org.uk. Enter the property's postcode and choose the address to see which broadband speeds and mobile coverage are available before you make an offer.
Can I transfer old workplace pensions into a SIPP?
Yes, and for many people this is one of the main reasons to open a SIPP. Consolidating old pensions into one place makes them easier to manage and can reduce charges. But it is not always the right move, some older pensions have valuable guarantees (like guaranteed annuity rates) that would be lost on transfer. An adviser will check each pension carefully before recommending any transfer. Find out more about combining your pensions.
Is the introduction really free?
Yes, we make the introduction at no cost to you. The pension adviser may charge a fee for their advice; they will make their charging structure clear before providing any advice or recommendation.

Explore our investment hub

Investments HubBack to the main investments page, explore all your options in one place. Combine My PensionsGot old workplace pensions? Find out how consolidation works and whether it is right for you. Junior SIPPStart a pension for your child from birth, with tax relief and decades of compound growth. Stocks & Shares ISATax-free investing alongside your pension, with flexible access whenever you need it.

Guides on this

Pension drawdown explainedWhat happens when you start taking money.Tax-free cash explainedThe 25% rule and its cap.

Pension guides worth reading

Talk it through with us

Tell us what you have in mind and we will come back to you, usually the same day. We are open Monday to Saturday, 9am to 8pm.

Send us a message