Self Invested Personal Pension
Take control of your future with a flexible, tax efficient account for your retirement
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What is a SIPP?
A Self Invested Personal Pension can help you save money for retirement. Build your pension pot with a broad selection of investment options, chosen by you.
A SIPP can also give you tax-efficient investments and government tax relief to get even more out of your long-term savings.
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- Boost your State Pension
- Save money from income tax and capital gains tax
- Reduce inheritance tax
- Flexible options when you retire
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Before you start putting your money to work, find out if a SIPP is suitable for you.
To open a SIPP, you must:
- Be 18 years old or older
- Be a UK resident
- Not be a US citizen or taxpayer.
Self-Employed?
- You’re the boss of your own retirement pot, so you choose how much to pay into your pension
- Growing your pension savings is challenging in today’s climate – but a tax-efficient SIPP investment account could help you diversify your investments
- Working for yourself is naturally independent – make sure that freedom continues by future-proofing your retirement with a pension plan
A SIPP is a great way to build your investment portfolio. It’s key to understand your investment options, charges and risks, too.
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Say hello to low-cost pension planning with IWeb.
- Free to open. No account opening charge
- Invest. Potentially up to £60,000 per tax year
- Flexibility. Choose when to access your pension from 55 (57 from 2028)
- Income. Available as a lump sum and/or regular income
- Choice. Spread your risk with the freedom to hand-pick your investments
Award
Winning
Example of SIPP tax benefits
Tax benefits can seem complicated so here’s one example of how it could work in practice. Please note, tax treatment depends on individual circumstances and may be subject to change in the future. We do not give tax advice and as tax relief is dependant on individual circumstances the amounts we show may vary to your own.
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Your tax bracket |
Your contribution |
Government top-up (20%) Paid into SIPP account |
Further tax relief Claimed through annual tax return |
Total tax relief |
|---|---|---|---|---|
Your tax bracket
|
Your contribution
|
Government top-up (20%)Paid into SIPP account
|
Further tax reliefClaimed through annual tax return
|
Total tax relief
|
Your tax bracket
|
Your contribution
|
Government top-up (20%)Paid into SIPP account
|
Further tax reliefClaimed through annual tax return
|
Total tax relief
|
Your tax bracket
|
Your contribution
|
Government top-up (20%)Paid into SIPP account
|
Further tax reliefClaimed through annual tax return
|
Total tax relief
|
Your tax bracket
|
Your contribution
|
Government top-up (20%)Paid into SIPP account
|
Further tax reliefClaimed through annual tax return
|
Total tax relief
|
Please note:
- Tax rates in the above table only apply to England and Wales
- Tax treatment depends on on individual circumstances and may change in the future
- We don’t offer tax advice as tax relief is dependent on individual circumstances – the amounts we show may vary to your own
Investments with Halifax Share Dealing Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme. This limit is applied to the aggregated total of any stock or cash held across the following brands that we administer.
This is in addition to any other savings deposits you may hold across Lloyds Banking Group.
Frequently asked questions
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A SIPP is similar to a regular pension. It’s a pot of money you build over the years, ready for retirement. What makes them different is that SIPPs let you manage the investments yourself. You can choose from a wider range of options and assets, such as funds, shares and investment trusts.
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The advantages and disadvantages of a SIPP can vary from person to person. You can only access your SIPP when you reach age 55 or older (57 from 2028). Plus, if you’re considering transferring your existing pension to a SIPP, you may lose your previous benefits. Be sure to research options before you jump in.
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Yes. You can contribute to both a workplace pension and a personal pension, such as a SIPP, at the same time. That way, you’ll benefit from your employer’s contributions as well as a diversified portfolio for additional pension savings.
AJ Bell Management Limited is the Scheme Administrator of the IWeb Share Dealing SIPP. AJ Bell Management Limited is registered in England No. 3948391. Registered Office: 4 Exchange Quay, Salford Quays, Manchester M5 3EE.
Authorised and regulated by the Financial Conduct Authority and on the FCA register under FCA register number 211468. Sippdeal Trustees Limited is a wholly owned subsidiary of AJ Bell Management Limited, registered in England No. 4050222. Registered Office: 4 Exchange Quay, Salford Quays, Manchester M5 3EE. Sippdeal Trustees Limited does not conduct any regulated activities, and is, therefore, not regulated.
Dealing and stock broking administration services are provided by the IWeb Share Dealing Service which is operated by Halifax Share Dealing Limited. Registered in England and Wales No. 3195646. Registered Office: Trinity Road, Halifax, West Yorkshire HX1 2RG. Authorised and regulated by the Financial Conduct Authority under registration number 183332. A Member of the London Stock Exchange and an HM Revenue & Customs Approved ISA Manager.