SIPP (Self Invested Personal Pension) information

We've teamed up with Investor Funds Direct Limited (part of the Royal London Group) to provide you with a low-cost SIPP on the YourWealth Investment Platform. Here's a summary of its main features.

Before you apply, please make sure you read the Important Information.

SIPP features

  • Access your money from age 55
    A SIPP is designed as a way of saving for retirement, so you normally can't withdraw funds until age 55. At that point you have various options, including taking up to 25% of your pension as a tax-free lump sum and setting up an income for the rest of your life.
  • Tax relief on contributions
    If you are a UK resident and under 75 you can get tax relief on contributions up to certain annual and lifetime limits. Read our guide to pension tax relief for more information.
  • Tax efficient growth on investments
    You won't pay capital gains tax on any investment growth and there is no further tax to pay on dividends or income received from investments held within the SIPP.
  • Freedom when you retire
    From age 55 you can access your SIPP. This includes the option of taking up to 25% of the value of your assets as a tax-free lump sum, taking a series of lump sums, or using drawdown to create a regular income.
  • No inheritance tax if you die before retiring
    If you die before taking benefits from your SIPP, and before reaching age 75, the fund will normally be passed to your spouse or other elected beneficiary free of inheritance tax.
  • Wide choice of funds and shares
    Choose from over 2000 funds and UK-listed shares and investment trusts.
  • Clear easy-to-understand charges
    The SIPP account is commission-free and all investment funds have clean share prices.
  • Easy to start
    Open a SIPP from just £100 a month. You can start your SIPP online now by making a lump sum contribution (min. £1,000) by debit card, and/or setting up a monthly Direct Debit (min. £100).

Apply for a SIPP

When you click Apply for a SIPP you will be taken to the Investment Funds Direct Ltd website (opens in a new window). You can complete the full application online. You'll need:

  • Your debit card or bank details
  • Your National Insurance number

Please note that some of the information requested is to help us comply with anti-money laundering requirements.

Apply for a SIPP

Important information about the SIPP

Please make sure you read this before clicking through to open your SIPP.

  • Know the risks: all investments should be held for the long term. They can go down in value as well as up, so you could get back less than you invested.
  • This SIPP is for people who are happy to make their own investment decisions.
  • It is important that you understand the risks involved and the commitment that you are making investing in the SIPP.
  • Once in a pension your money is not usually accessible until at least age 55.
  • Tax rules can change and tax reliefs depend on your personal circumstances.
  • Investment Funds Direct Limited will be your SIPP provider and will ensure your money is invested in the funds you have chosen.