Add a Self-Invested Personal Pension (SIPP)
Invest in yourself. Invest in your pension.
Add a three-time Which? Recommended ii SIPP, take advantage of low, flat-fee investing and enjoy the retirement you deserve.
Important information: The ii 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 don't lose any valuable benefits such as, guaranteed annuity rates, lower protected pension age or matching employer contributions. Tax treatment depends on your individual circumstances and may be subject to change in the future. If you’re unsure about opening a SIPP or transferring your pension(s), please speak to an authorised financial adviser.
SIPP special offer
Add an ii Personal Pension (SIPP) before the end of May and enjoy our special double offer:
- Get £100 towards your trading fees; plus
- Save up to £30 with 3 months of no SIPP fee
Offer ends 31 May 2025. Existing customers only. Terms and fees apply.
Important information: It’s important to take your time before transferring your pension. Make sure to consider what the best option is for you. Don’t transfer just to qualify for the offer, and don't rush any decision to meet the offer deadline. We periodically run offers, and there will likely be other opportunities in the future.
What is a Self-Invested Personal Pension?
A Self-Invested Personal Pension (SIPP) is a type of tax-efficient pension account offering you a wider choice of investments and more flexibility.
Whatever your investing experience, a SIPP can help you reach your goals. Choose from ready-made funds selected by experts, or hand-pick your own investments from the UK and global markets.
Investing with a low-cost SIPP, like the ii SIPP, gives you a greater opportunity to grow your savings for the retirement you want.
Benefits of a SIPP
Like all pensions, SIPPs have great tax benefits, but the main features that set them apart are control, choice and flexibility.
Control how you contribute
Don’t feel limited by your retirement saving options. With a SIPP, you’re in control of how much you save and when.
So, SIPPs can be a great choice for the self-employed, someone consolidating their pensions or anyone who values a bit of flexibility.
Choose your investments
Have the freedom to choose exactly what to invest your retirement savings in, and adjust your investments anytime.
If you aren't sure where to begin, you can take a hands-off approach to your pension with ready-made funds and expert picks.
Retire on your terms
Unlike some other pensions, when you’re ready to start taking an income from your SIPP, you have a range of retirement options to choose from.
You can withdraw from your SIPP in various ways, including tax-free cash, income drawdown, lump sums, or a combination that best suits your needs.
Why choose the ii SIPP?
Why choose the ii SIPP?
Keep more of what you make
Bring all of your pensions under one roof and see if you could save. Other providers usually charge a percentage of your pot. That means you’ll be charged more as your pension grows. The ii SIPP is different. You can rely on our flat fee and can keep more of what’s rightfully yours.
Enjoy more choice and flexibility
The ii SIPP offers a wide range of investments and flexible retirement options to suit most people’s needs. More choice doesn’t have to mean more complexity. Our expert picks and SIPP investment ideas can do the hard work for you.
Trust in our top-rated support
It’s easy to keep track of your pension via our website and secure mobile app. But if you’re ever in need of SIPP support, you can count on us. We’re happy to say that ii has more 5-star Trustpilot reviews than any other UK SIPP provider.
It’s official: three-time Which? Recommended SIPP
For the third year in a row, independent analysts at Which? have recognised the ii Self-Invested Personal Pension for its industry-leading choice, support and value.
Start prioritising your pension with our award-winning, low-cost SIPP.
What are the charges to add an ii SIPP?
Many other providers charge a percentage of your pension pot. That can mean the more you make, the more they take.
By adding a SIPP, you can still rely on our flat monthly fee to help you reach your retirement goals sooner. See the table for information on upgrading your plan.
Other charges, such as trading fees, still apply. Find out more about our plans and charges.
Your plan when you add a SIPP
| Invest up to | Your new monthly fee | Your new plan |
|---|---|---|
| £75,000 | £9.99 | Investor Essentials + SIPP |
| No limit | £21.99 | Investor + SIPP |
How to get started
How to get started
As you're already a customer with us, it's quick and easy to add a SIPP. If you're on our Investor Essentials, Investor or Super Investor plans, simply log in, click "add an account" and select "open a SIPP".
If you'd like, you can transfer most types of pension to us. Keeping all your pensions in one place makes things simple and could reduce your costs.
You can start a transfer while adding your SIPP - or you can do it anytime when you're logged in.
We’ll automatically claim basic rate tax relief for you - a 25% top up on your contributions - and pay this into your SIPP. If you’re a higher earner, you can claim additional tax relief via your Self Assessment.
One of the best aspects of a SIPP is what you can do with it when you reach retirement.
Check out the different ways you can access your pension when you reach age 55 (57 from 2028).
Why Rhian & Julian transferred their pensions to ii
“ii are night and day compared to other providers. We were looking for fairer charges, good reviews and what other people experienced. And they ticked every box. That’s why we’re with ii.”
Rhian and Julian, 62 and 64, switched to ii and now feel confident in their financial future. Hear why they’ve joined over 430,000 investors taking greater control of their money with ii.
Not sure how to invest in your SIPP?
No worries. Our SIPP Selected Growth Option is an optional low-cost investment that our experts have carefully selected to match common goals when investing for retirement.
SIPP FAQs
You can make personal contributions to your SIPP of up to 100% of your annual income each tax year, up to the maximum annual allowance of £60,000. This annual allowance includes personal contributions, employer contributions and tax relief. Employer contributions count towards your £60,000 annual allowance but are not limited by your income.
You can also use the pension carry forward rule to take advantage of unused annual allowances from the previous three tax years and add them to this year’s allowance, provided:
- You had a pension plan in each of those years (even if you did not contribute)
- For personal contributions, you have sufficient earnings in the current tax year to cover the total contribution
This means you could potentially contribute more than £60,000 in the current tax year by “carrying forward” unused allowances from prior years — up to your relevant earnings limit.
If you have taken taxable income from any pension and triggered the MPAA, your allowance will be reduced from £60,000 to £10,000.
If you do not have any earnings in a tax year, you can still contribute a maximum of £3,600 (£2,880 in personal contributions and £720 tax relief).
For every personal payment you make into your SIPP from your net income, we’ll automatically claim basic rate (20%) tax relief for you. So if you contribute £80, this will be topped up to £100.
Once your tax relief has been sent to us by HMRC, we’ll pay it as cash into your SIPP account, so you can choose how to invest it.
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.
The earliest you can access your SIPP is age 55, rising to 57 in 2028.
You can withdraw from your SIPP in various ways, including tax-free cash, income drawdown, lump sums, or a combination that best suits your needs.
You can also take up to 25% of your pension tax-free - subject to a maximum of £268,275 - while any remaining withdrawals will be added to your income and could be taxed.
Yes, you can have a SIPP and a workplace pension and can pay into both at the same time. Just make sure your total contributions don’t exceed you annual allowance.
Once you’ve maximised your employer pension contributions, paying into a SIPP can be a great way to complement your workplace savings.
Yes – there's no limit on how many SIPPs you can have. However, bringing your pension pots together into one SIPP can make your retirement planning much simpler.
We make it easy to transfer other pensions into the ii SIPP. You can transfer when opening your account, or you can come back and do it later.
Yes, ii makes it easy for employers to make contributions to your SIPP through one-off and/or regular payments. If you want to pay into your SIPP this way, you'll first need to ask your employer if they're able to arrange this.
When you die, any remaining money in your SIPP can pass to whoever you wish. It’s important that you fill out an expression of wishes form to make sure your pension ends up in the right hands.
Please note: from 6 April 2027, pensions and death benefits will become subject to inheritance tax. Find out more here.
Have a question about the ii SIPP? We can help.
Call our award-winning UK-based support team on 0345 646 2390.
You can reach one of our friendly SIPP specialists between 8am-4:30pm, Monday to Friday.
Learn more about SIPPs
How can Pension Wise help?
If you’re thinking about retiring soon and want to understand your options, make sure you speak to someone at Pension Wise.
Pension Wise is part of the government’s Money Helper service, offering free and impartial pension guidance to the over-50s. They can also help you decide if transferring your pension is the right choice for you.
