What is a SIPP?
A Self-invested Personal Pension (SIPP) is a type of pension introduced in 1989 and was designed for people who wanted an alternative to company pensions. They offer tax-benefits with the UK Government giving a 20% basic tax relief.
Ordinarily, the amount you can personally contribute into your SIPP each tax year is £40,000; but your employer can also contribute into your SIPP.
You can also ‘carry forward’ unused allowances from the previous three years. To understand how this works and the calculations used, please read our SIPP Key Features Document here
If you still have any questions relating to SIPPs, please contact us at firstname.lastname@example.org