A pension you control yourself, with more investment choice than a workplace pension.
SIPP (Self-Invested Personal Pension)
A pension you control yourself, with more investment choice than a workplace pension.
By Scrimpr
Updated 18 Jan 2026 What is a SIPP?
A SIPP (Self-Invested Personal Pension) is a personal pension. You choose where to invest your money, picking from funds, shares, and bonds. It gives you more control than a workplace pension, where someone else picks the investments.
What are the tax benefits of a SIPP?
You get tax relief on what you pay in. If you’re a basic rate taxpayer and you put in £80, the government adds £20. Higher rate taxpayers can claim back more through their tax return.
Your investments grow free of Capital Gains Tax and Dividend Tax.
When can you access a SIPP?
From age 55 (rising to 57 in 2028). You can take 25% tax-free. The rest is taxed as income when you withdraw it.
How much can you put in a SIPP?
Up to £60,000 per year, or 100% of your earnings, whichever is lower. This limit is shared with any other pensions you pay into, including workplace pensions.
SIPP vs workplace pension
A workplace pension comes with employer contributions. Free money. A SIPP gives you more investment choice but no employer top-up.
Most people use both. Workplace pension for the employer match, SIPP for extra savings or more control.
Scrimpr’s SIPP comparison is the most comprehensive in the UK.
Compare SIPP Platforms →Key points about SIPPs
- You pick the investments. More choice than a workplace pension
- Tax relief on contributions. The government tops up what you pay in
- Locked until 55 (57 from 2028)
More information
Scrimpr links to official sources so you can verify what you’ve learned.
