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A SIPP (Self-invested Personal Pension) is a type of pension that offers a wide range of investment options and gives you full control over where your money is invested, allowing you to retire on your own terms.
You can usually contribute up to 100% of your earnings each year, capped at £60,000 (or £3,600 gross if you have no earnings). For every personal payment you make into your SIPP from your net income, your provider will automatically claim basic rate (20%) tax relief for you. So, if you contribute £80, this will be topped up to £100.
If you’re a higher rate (40%) or additional rate (45%) taxpayer, you can claim back the rest of your tax relief through your annual Self-Assessment.
You don’t need to be fully retired to start taking money from your SIPP. Once you reach the minimum age for accessing your pension, you can choose how and when to withdraw your pension benefits. Just make sure you manage your withdrawals in the most tax-efficient way possible.
Unlike some other pensions, when you’re ready to start taking an income from your pension, you have a range of retirement options to choose from. Withdraw your savings from your SIPP using lump sums, income drawdown, and other flexible options.
Have the freedom to choose exactly where and how to invest your retirement savings and adjust your investments anytime. With a SIPP, you can choose from a range of UK and international shares, Funds, ETFs, and more. And if you prefer a simple, hands‑off approach, you can choose our Managed Portfolio service, which uses ii’s risk‑rated Managed Portfolios. You’ll be matched to a portfolio that fits your goals and risk level, built and monitored by experts who regularly review and rebalance your investments for you. There’s no separate management fee for using Managed Portfolios; they’re included within ii’s flat‑fee subscription, while fund charges remain low, making this a convenient and great‑value way to stay invested with confidence.
To make getting started even more rewarding, you can receive £100 to £3,000 cashback when you open an ii Personal Pension (SIPP) and move to our low, flat fee. Simply transfer or deposit £20,000 or more to qualify. Offer ends 28 February 2026. Terms and fees apply. New SIPP customers only.
Capital At Risk. The ii Personal Pension (SIPP) is for people who want to make their own decisions when investing for retirement. As investment values can go down as well as up, you may end up with a retirement fund that’s worth less than what you invested. Usually, you won’t be able to withdraw your money until age 55 (57 from 2028). Before transferring your pension, check if you’ll be charged any exit fees and make sure you won’t lose any valuable benefits, such as:
This communication isn’t a personal recommendation. If you’re unsure about opening a Personal Pension (SIPP) or transferring your pension(s), please speak to an authorised financial adviser. It is important that you take enough time to decide whether transferring your pensions is right for you.