A Self Invested Personal Pension is one of the UK’s most flexible type of personal pension policies. The Invinitive SIPP is available to both UK residents and Non residents who at one time had some exposure to the UK and left behind their pension assets. Let’s look at each option:
UK Residents
If you live in the UK and you’re comfortable managing your own pension investments you can set up a SIPP yourself. It’s relatively easy to do. If not, you should always look to seek advice from a Regulated Financial Adviser.
Once you’ve opened a SIPP, you’ll need to consider what you want to invest in before making contributions – these can be made as a one-off or on a regular basis. If you plan to transfer one or more existing pensions into your SIPP, check whether you’ll need to pay any transfer penalties to your existing provider first.
Once a SIPP is up and running, it acts much the same way as a regular pension:
Non UK Residents
If you don’t live in the UK you cannot manage your own pension investments directly. You will need to seek help from a regulated financial adviser in your location, who is qualified to provide you with advice on a UK Pension. Once you find them, ask them if they recommend The Invinitive SIPP and if they don’t, ask them to reach out and we can get them added almost immediately.
Once your SIPP is open, you’ll need to coordinate with your adviser to discuss how to structure your portfolio. Please note that; as a Non Resident, you cannot pay into the Invinitive SIPP. If you plan to transfer one or more existing personal pensions into your SIPP, check whether you’ll need to pay any transfer penalties from your existing provider first and if so, please discuss this with your adviser in full.
Some of the highlights of the Invinitive SIPP for Non Residents are:
Because SIPPs require a more hands-on approach than standard pensions, you’ll need to keep an eye on its performance and make ongoing investment decisions. This can usually be done online on our comprehensive client portal.
Terms & Conditions
Key Features
Costs and Charges
Click here to view our policies and disclaimers prior to opening any type of account with us.
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Our super low cost fees are £150 p.a. for the wrapper, plus 0.25% on all assets we hold, capped at £400 p.a.
Access to an array of global markets covering a vast range of Equities, Exchange Traded Funds and Mutual Funds / Investment Trusts.
Your account will let you exchange almost any currency pair, allowing you to invest in foreign currency assets.
Live Pricing with immediate market access at a fixed cost of £7.95 per transaction, including FX.
Whether an active or a buy and hold trader, our platform has been designed for both professionals and novices.
No paperwork, no scanning and uploading, fully automated for an enhanced client experience.
capped at £400 per annum
fixed for all online trades & fx
free for accounts under £50,000
A SIPP can be a good option if you want to combine your pension pots into one single fund and then actively manage your money yourself, or choose a money manager to do this for you.
With other types of pension, decisions about how to invest your money are in the hands of your pension provider.
This means that a SIPP comes with a certain level of responsibility, and requires savers to have some understanding of investing and to keep an eye on their investments.
You can usually opt to pay quite a low monthly amount into your SIPP, but a higher monthly contribution sometimes gives you access to more investment options.
We always suggest seeking independent financial advice if you are unsure or not confident with investing yourself.
There are many different SIPP’s available in the UK today and they have different fee structures, so it’s important to check and compare carefully.
Some are complex SIPP’s that allow property purchases and some are simple ‘pay into’ or transfer amalgamation SIPP’s. So chose wisely, there is no point in paying for something you will not use.
Please note that sometimes there could be a cost in setting up your SIPP. Also note that annual fees and trading charges will apply.
It would be worthwhile taking a look at any exit penalties along with any charges you’ll have to pay if you want to draw an income from your SIPP.
With the Invinitive SIPP, things couldn’t be simpler. £150 per annum for accounts exceeding £50,000 and a 0.25% annual management fee (capped at £400 per annum). That’s it! We do have some adhoc fees for trading, withdrawing etc, so please review our fees and charges document for further information.
A SIPP grows completely tax free.
This is one of the main advantages of using one.
Another advantage for UK residents is tax relief.
When it comes to paying money into your SIPP, the government will apply tax relief on your contributions. The amount you receive will depend on your income tax band (Scotland has different rates). Income must be generated in the UK, through PAYE channels:
> Basic-rate taxpayers get 20% tax relief
> Higher-rate taxpayers get 40% tax relief (claimed through self-assessment)
> Additional-rate taxpayers get 45% tax relief (claimed through self-assessment)
So a basic-rate taxpayer only needs to contribute 80p of every £1 that ends up in their SIPP.
There’s a limit on the amount you can pay into your SIPP, called the Annual Allowance. This allows you to pay in up to £60,000 per year or 100% of your salary – whichever is lower (2024/2025). The rules are slightly different for those earning less than £3,600 or more than £240,000.
A SIPP (and all UK pensions for that matter) can be accessed from the age of 55 (this will increase to 57 from 2028), no matter who your provider is. However you can leave the money in for longer if you prefer.
The benefit of the 2015 Pension Freedoms Act 2015 meant that you no longer needed to buy an annuity with your pension proceeds. Instead you can take flexible access; allowing you access to what you want, when you want it.
The value of your SIPP can be derived from the amalgamation of old frozen pensions and/or the contributions you made to the pension whilst eligible.
When you decide to take money out of your SIPP, your options are very similar to traditional pensions. You could:
> Take all of it out as a lump sum
> Take out a smaller lump sum and leave the rest invested for later use
> Buy an annuity
> Drawdown a smaller amount on a regular basis
> Leave it for access at a later date when you need it or pass it to your beneficiaries
You can withdraw 25% of your SIPP at any time after 55 (57 from 2028) free from UK tax (for Expats this could still be taxable in your country of residence, please seek tax advice). The other 75% will count towards your annual earnings and will be taxed as per the UKs standard income tax bandings.
For example, if your annual earnings (including the amount you withdraw from your SIPP) make you a higher-rate taxpayer, you’ll need to pay 40% tax on earnings above £50,270 (2021/2022)
Open your account through our automated application process and then fund your account with as much as you wish to deploy or set up a Direct Debit to pay one off or regular premiums.
If you have an account with another provider you can transfer it to us. Open a GIA account then provide us with the details of your accounts and we will take care of it from there.
The value of your investments and the income from them can go down as well as up, you may get back less than you invest. Tax treatment depends on individual circumstances and all tax rules may change in the future. None of the above information should be construed as a personal recommendation or advice. If you are unsure about the suitability of an investment or pension product you should speak to an authorised independent financial adviser.
