Self-Invested Personal Pension (SIPP)
YOUR RETIREMENT. A WEALTHIFY PERSONAL PENSION.
- Contribute from as little as £50, via Direct Debit or one-off payments.
- Receive automatic tax relief with a 25% top-up on personal contributions.
- Combine your old pensions into one by transferring to us with ease.
With investing, your capital is at risk. The tax treatment of your investment will depend on your individual circumstances and may change in the future.
What is a SIPP?
A Self-Invested Personal Pension (or SIPP, for short) is a tax-efficient personal pension that gives you flexibility and control over your retirement pot.
You pay your own money into a SIPP, which will typically be invested in a wide range of investments, including shares, bonds, and property.
A SIPP provides two main tax benefits: you don’t pay capital gains or income tax on your investments as they grow, and you can get an instant government tax relief top-up of 25% on personal contributions.
So, let’s say you pay in £80; the government will then add another £20, turning that initial £80 into £100!
Another benefit is that you can adjust how much you pay in, making it a popular option for self-employed people looking to make personal contributions — and those looking to have more than just their workplace pension for retirement.
HOW DOES A WEALTHIFY SIPP WORK?
Three simple steps. That’s all it takes to open a new Self-Invested Personal Pension with Wealthify!
YOU CHOOSE
From Cautious to Adventurous, Original or Ethical; start by telling us what type of investor you want to be.
WE INVEST
Once we’ve established your investment style, our experts will build your Personal Pension Plan with just the right mix of investments.
WE OPTIMISE
You then leave all the heavy lifting to us, as we monitor your Pension Plan and adjust it to keep your retirement on track.
OUR AWARDS CABINET
WHY CHOOSE WEALTHIFY FOR YOUR PENSION?
Backed and owned by Aviva, Wealthify was launched in 2016. Today, we’re trusted by over 100,000 people to look after their savings and investments.
But what makes us different — and why choose Wealthify for your pension?
Simple: You don’t need any previous investing experience with a Wealthify SIPP. Simply choose your initial investment amount and style (from Cautious to Adventurous; Original or Ethical), then you’re good to go!
Managed: We know pensions can be confusing, which is why our Investment Team manage it for you. This includes your 25% tax relief top-up on personal contributions, which we’ll automatically add to your pot and invest for you.
Transparent: With a Wealthify SIPP, there’s one simple annual management fee of 0.6%, payable monthly based on the value of your investments.
Flexible: Whether via Direct Debit or one-off payments, you can pay into a Wealthify SIPP from as little as £50, helping you build a pension pot on your terms.
Support: When dealing with something as important as your pension, sometimes you just need to be able to speak to an actual human being about it. Thankfully, we’ve got an award-winning team of them, ready and waiting to answer your call, email, or secure message (please note, they're unable to give any financial or product advice).
TRANSFERRING A PENSION TO WEALTHIFY
Looking to transfer an old pension to a Wealthify SIPP?
Perhaps you have a handful of old workplace ones you’ve been wondering what to do with? If this sounds like you, then the good news is that transferring them is an equally simple three-step process, as we do all the hard work for you. And, with all your old pensions consolidated, your investments could build as one larger, combined amount!
FIND YOUR OLD PENSIONS
Start by telling us a few details about your old pensions via an online transfer form, including a reference number and recent value.
THE TRANSFER PROCESS
We'll then talk to your provider(s) and start the transfer process, which usually takes within 30 days to complete.
INVESTING & OPTIMISATION
Based on your chosen investment style and Plan type, we'll build your Pension Plan and start investing, as well as optimise it when needed.
Secure
Your login details will always be kept secure — but never shared with anyone else.
Support
Our friendly Customer Care Team are always happy to help via email, Live Chat, or on 0800 802 1800.
Strength
Wealthify is owned and backed by Aviva: one of the UK's largest financial institutions.
SIPP FEES
When saving over long periods of time – as is often the case with pensions – fractions make a difference. Sure, an extra 0.01% per year might not seem like much now. But over a lifetime, that small number could add up to a big one, essentially eating into your retirement savings.
That’s why SIPP fees matter — and why we’re completely transparent with ours: one annual management fee of 0.6%, regardless of how much your pension’s worth. And, unlike some traditional providers, we won’t charge you for depositing or withdrawing money, transferring funds, or closing your Plan.
This 0.6% annual management fee is payable monthly based on the value of your investments and covers everything we do, including setting up your account, looking after your money, and optimising your investments.
As with most investments, average investment costs can apply but we aim to keep these as low as possible: around 0.16% per year for Original Plans and 0.7% per year for Ethical.
With investing, your capital is at risk. The tax treatment of your investment will depend on your individual circumstances and may change in the future.
OUR REVIEWS
Blog Articles
PENSION ALLOWANCE
When it comes to pensions, there’s a lot to consider. But before withdrawing from it, you need to know about your pension allowance.
HOW TO FIND A LOST PENSION
If you’ve lost a pension then you might be glad to know it’s easier to find it than you might think. Click here to learn how to find lost pensions.
PENSION CONSOLIDATION
If you're considering consolidating your pensions to bring them all together in one place — here’s what you need to know.
WHEN CAN I ACCESS MY PENSION?
Hoping to retire young or want to spend some of your pension savings before you retire? Here’s everything you need to know about accessing pensions early.
Pension FAQs
You can access your pension when you turn 55 (rising to 57 in 2028). Subject to current pension rules, you'll be able to withdraw 25% of the total amount tax-free, with the rest being taxed based on your individual circumstances. However, you don’t have to take any of your pension if you don’t want to. If you’re still working, for example, you can leave the money in your pension – and continue to contribute – until you retire.
The way you take your money out of your pension (a process known as moving your pension into drawdown), will vary depending on the type of pension you have.
If you have a defined benefit pension, you will receive a specific income for life, which should increase every year. If you have a defined contribution scheme, then you’ll be able to choose how you want to withdraw your funds using one of the following methods:
- Take your whole pension in one go as a lump sum.
- Withdraw money whenever you need it.
- Receive a regular income.
Wealthify doesn’t offer a pension tracing service.
However, if you're looking to transfer your pension to us, we will need to know who your pension is with and a reference number.
Normally, pension providers will issue you an annual statement that comes through the post — even if it's a lost pension you no longer pay into.
Your policy number should be included in the letter. If you know the pension provider but can’t find a statement, you may still be able to find your pension by contacting the provider.
In the case of a workplace pension (a pension set up by your employer), if you don’t know who the provider is, then your first port of call should be contacting your employer.
If you need help finding a lost workplace or personal pension, please visit the Pension Tracing Service, which is a free, government-run service.