SIPP - Person assessing their self invested personal pension

Self Invested Personal Pension

Is a SIPP the right
investment for you?


A Self Invested Personal Pension, more commonly known as a SIPP – is a type of private pension that gives you more hands-on control of where your retirement funds are invested compared to a standard pension.

A SIPP (Self Invested Personal Pension) works in the same way as any other personal pension, you can add money into your funds at any time plus; currently, the government will top up your investment with an extra 20% boost.

This extra boost is called basic-rate tax relief and every UK resident under 75 years qualifies.


SIPP - Person assessing their self invested personal pension

Who is a SIPP suitable for?

A Self-Invested Personal Pension gives a far higher level of control and could be ideal for those people who are experienced and successful investors. Maybe you have had some success in the stock market already and have the time and dedication to make those critical investment decisions that could affect your future.

You are in complete control of how and where your money is invested, and it is your responsibility to make the decisions that will determine how your pension pot performs.

If you are not an experienced investor or prefer a little more security with your retirement and life savings, then a Self-Invested Personal Pension may not be right for you. It’s advisable to speak with one of our financial advisers who are pension specialists before deciding to invest or transfer your funds into a SIPP.

Who can open a SIPP?

If you’re a UK resident and under 75 years old you can open a SIPP and begin contributing. You can also transfer existing private or old workplace pensions into your SIPP, but some pensions may be best left where they are due to penalties or guarantees you could be giving up. You will be making your own decisions with a SIPP so fundamentally you will be running your own pension scheme.

As with all investments, the value of your funds may go down as well as up and you may not get back as much as you have invested. As the investor, you will need to understand the risks and the security you will be giving up before you decide to transfer the pension funds into a SIPP.


Friends discussing self invested personal pension SIPP

How Pension Works can help

When making your own investment decisions, it’s wise to get the performance of your pension regularly evaluated, to see how your investments have performed against the market and if you’re on track. If you are getting closer to the retirement age you desire, your attitude to risk may have changed because you’re looking for a more secure pension investment, then transferring your SIPP into a multi-asset fund may be beneficial.

At Pension Works, we can assess your current pension performance and if appropriate, make recommendations to secure your retirement funds.

Call 0808 164 2664 today or start your journey online today.


Peace of mind

We work with all major UK pension providers allowing us to find the pension that helps you meet your retirement goals, and ensures your retirement is in experienced hands.

Pension Fees Calculator

Our free pension HealthCheck will carefully assess whether your private pension is being consumed by excessive fees or hidden charges, which could be preventing you from retiring with extra funds.

Simply provide your pension pot size and age below, to calculate how much we could help your pension grow:

The higher the charges, the longer it may take you to retire and the less you could be retiring with.