UK SIPP
Freedom and Control with UK SIPP
A UK SIPP (Self-Invested Personal Pension) allows you to transfer a pension you've earned from working in the UK or Ireland. These personal pension schemes offer you complete freedom and control over how and where you invest your retirement savings. They are perfect for those who want visibility over their investments and the flexibility to make changes to their pension as they see fit.
Personalised Investment and Flexibility
The main difference between a UK SIPP and a typical pension plan is the high degree of freedom and personalisation it offers. You get a wider selection of investment choices to suit your unique needs and preferences. For even greater flexibility, you can access your account online at any time to make adjustments as your financial needs and goals evolve.
Major Tax Benefits
With a SIPP, you can enjoy two major tax benefits. First, your investments can grow without being subject to capital gains and income tax. Second, when you contribute to your SIPP, the government provides tax relief, adding a percentage to your investment. While the basic rate of tax relief is 20%, the exact amount depends on your personal circumstances.
Ideal for UK and Non-UK Residents
The UK SIPP is a versatile option for various individuals. If you live in the UK, you can make new tax-relieved contributions or transfer an existing pension. For those who are not UK residents, a SIPP is an excellent way to personally manage an existing pension located either in or outside of the UK.
Frequently Asked Questions
It’s designed for those wanting more control and flexibility with their UK pension investments.
Yes, though the tax treatment depends on your country of residence.