As its name suggests, a SIPP (Self Invested Personal Pension) is a pension scheme that gives you the freedom to decide exactly how your retirement savings are invested. Because you manage your investments, a SIPP is effectively the "do-it-yourself pension scheme".
If you’re looking for the choice and control that a SIPP can give you when you’re saving for retirement, then the Sippdeal SIPP could be the perfect choice. It offers you
Low costs
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Online dealing from £4.95 and never pay more than £9.95 per online deal. | |
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No charges for: | |
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Set up | |
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SIPP annual administration | |
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Payments in | |
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Moving an existing pension to Sippdeal (it is free to transfer in) | |
See all of the Sippdeal SIPP charges and rates.
A market leading investment range
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The Sippdeal SIPP has over 2,300 investment funds to choose from (both unit trusts and OEICs) and over 2,100 of them have no initial charge, saving you up to 6%. |
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You can invest in any securities that are quoted on a recognised stock exchange and are settled within CREST. (CREST is the electronic settlement system through which the London Stock Exchange settles bargains.) This range includes UK and Irish securities as well as international securities across 21 markets. |
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You can invest in government bonds, corporate bonds, permanent interest bearing shares (PIBS), warrants, covered warrants and investment trusts. |
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You can invest in exchange traded funds (ETFs) and exchange traded commodities (ETCs). |
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Regular investing is now available across the FTSE 350, over 2,000 funds in our funds list, selected investment trusts, ETFs and ETCs. It's FREE to regularly invest in the funds list and just £1.50 per order for all other regular investments. |
Read more about the investment options that the Sippdeal SIPP offers you.
Sippdeal could also offer you real savings with our annual fund rebate of up to 0.5% p.a. on SIPPs, ISAs and Dealing Accounts. The rebate is available on over 1200 funds in the Sippdeal Funds List.
Great functionality
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View your SIPP portfolio online 24 hours a day, 7 days a week, anywhere in the world. |
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Deal online through Sippdeal’s secure area quickly and simply. Equity deals are processed immediately. |
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Use your debit card to fund your dealing account instantly and deal. |
Why not try the Sippdeal dealing demo to see just how easy it is to manage your SIPP online? Our dealing FAQs can answer any questions you may have about online dealing.
Award winning service
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Sippdeal was the UK’s first online SIPP provider and it continues to win prestigious awards year after year for its great service and innovative products. In 2010, Sippdeal won “Best SIPP Provider” at The Daily Telegraph Wealth Management Awards and “SIPP Provider of the Year” at the Investors Chronicle Awards. |
As its name suggests a SIPP (Self Invested Personal Pension) is a pension scheme that gives you the freedom to decide exactly how your retirement savings are invested. Because you manage your investments, a SIPP is effectively the “do-it-yourself pension scheme”.
Once you’ve reached the age that you want to start to draw your pension (you have to be at least 55) you can then decide how you want to use the fund built up in your SIPP to provide you with an income.
You can take up to 25% of your fund as a tax free lump sum and use the balance to provide you with a pension through income withdrawal from your SIPP or through the purchase of an annuity, from your choice of insurance company. Please read the benefits page for more information.
One of the big advantages of a SIPP over a personal pension (i.e. a pension scheme run by an insurance company investing in their in-house funds) is the enormous range of investment opportunities they offer and your ability to manage and change your investments as and when you want to.
With a Sippdeal SIPP, you could invest in shares of your favourite quoted companies or perhaps in an ETF, unit trust or OEIC. And if you’re not happy with the performance of your SIPP, you are free to sell any of your investments and buy a new investment whenever you want to.
The table below shows you just how broad the Sippdeal SIPP investment range is when compared to a personal pension.
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Investment |
Personal pension |
Sippdeal SIPP |
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UK Shares |
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International shares |
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Government bonds |
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Corporate bonds |
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Permanent interest bearing shares (PIBS) |
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Warrants |
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Covered warrants |
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Exchange traded funds (ETFs) |
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Exchange traded commodities (ETCs) |
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Unit trusts |
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OEICs (Open Ended Investment Companies) |
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Investment trusts |
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Insurance company managed funds and their range of funds run by other managers |
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So as long as you have the confidence and financial know-how to make your own investment decisions, the potential growth of your pension pot is up to you.
There are though some limitations in what you can invest in with a Sippdeal SIPP. For example, you cannot hold commercial property. These are explained more fully in the investment options.
If you are considering using commercial property in your SIPP, then A J Bell offers another SIPP to enable you to do this – Platinum SIPP.
You can also make one off or regular payments into your SIPP, which are known as contributions to take advantage of the generous tax benefits available. You can also move an existing pension into a Sippdeal SIPP (which is known as a transfer, including protected rights).
At any time from age 55, you can start to use the money invested in your Sippdeal SIPP to provide you with benefits, either in the form of a lump sum and/or an income.
Starting a SIPP couldn’t be simpler and with Sippdeal you have the flexibility to invest lump sum amounts whenever you wish or set up a monthly Direct Debit which you can change at any time.
We’ve made applying for Sippdeal so simple that there are just a few simple steps to follow and it shouldn’t take you more than 10 minutes to complete once you have read all the information.
Apply for a Sippdeal SIPPWhen you make a contribution to your Sippdeal SIPP, you pay it “net” of basic rate tax, i.e. the tax man gives you 20% tax relief on that contribution. For example, if you pay £8,000 into your SIPP, the government contributes £2,000 – so £10,000 goes into your SIPP.
If you’re a higher rate taxpayer you can claim further tax relief through self assessment. So, if you pay £8,000 into your SIPP, you can claim back a further £2,000 - meaning that the £10,000 in your SIPP will only have cost you £6,000.
Additional (50%) rate taxpayers can benefit from even higher rates of tax relief.
The table below shows you the tax benefits of a SIPP.
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Amount you pay (80%) |
Government adds (20%) |
Total invested in your SIPP |
Higher rate tax payers can claim back a further |
Effective cost for higher rate tax payers as little as |
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£800 |
£200 |
£1,000 |
£200 |
£600 |
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£2,880 |
£720 |
£3,600 |
£720 |
£2,160 |
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£8,000 |
£2,000 |
£10,000 |
£2,000 |
£6,000 |
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£16,000 |
£4,000 |
£20,000 |
£4,000 |
£12,000 |
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£40,000 |
£10,000 |
£50,000 |
£10,000 |
£30,000 |
In each tax year, you can get tax relief on the contributions paid into your SIPP, up to 100% of your earnings – subject to the annual allowance limit - which for the 2011/2012 tax year is £50,000.
Any contributions from your employer are payable gross. Your employer will normally receive tax relief on any contributions they pay to your SIPP and you will not normally be taxed on these contributions.
Even if you have no UK earnings, or your gross earnings are less than £3,600 a year, you can still make “net” contributions of up to £2,880 into your SIPP, to which HMRC will add £720.
Once your money is invested in your SIPP, it grows free of Capital Gains Tax and Income Tax. (Tax deducted at source on dividends, however, cannot be reclaimed.)
Please be aware that this information is based on current legislation, HMRC guidance and tax rates which may change in the future.
To help you learn more about our SIPP and how it could help you save for your retirement, we've developed a range of video guides. Simply click on the video you'd like to watch.
