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What is a SIPP?

  • A SIPP is a pension account that holds your chosen investments until you retire and start to draw a retirement income
  • You choose how much to save, how you want to invest it and how much you take out from age 55 (57 from 2028) onwards
  • You can also transfer other pensions to a SIPP, letting you manage your whole pension pot in one place. You’ll find a transfer form in our application pack

Why invest in this SIPP?

  • Your investments will be free from UK tax including capital gains and income tax
  • Protect your estate from paying up to 40% inheritance tax with a SIPP
  • Manage your whole pension pot in one place, simply transfer other pensions to your SIPP
  • No set up charge or percentage fees on holdings
  • Our SIPP is administered by AJ Bell

What will I pay?

  • Quarterly account charge of £22.50 if the SIPP value is £50,000 or less, and £45 if the value is above £50,000
  • £9.50 dealing commission online per trade
  • Zero commission on international online trading (1.25% foreign exchange rate still applies)
  • Transfer in other pensions for £60 per plan (capped at £300)

Aims of a SIPP?

  • Helps you save tax efficiently for your retirement
  • Gives you freedom to choose where you want to invest your money and spreads your risk
  • Provides income in the form of lump sums and/or regular income
  • Reduce inheritance tax and pass on more of your money

Why save into a pension?

  • The state pension as of 2022/23 pays £185.15 per week* which is less than the average retirement income according to the Government’s most recent data**
  • Money that you would have paid in income tax goes toward your future instead
  • You can take up to a quarter of your pension savings as a tax-free lump sum when you retire

Why choose Halifax?

  • Competitive, flat rate fees - free to open and no percentage based platform fees
  • Interest paid on cash – follows the Bank of England Base Rate which is currently 1.25%
  • Wide investment choice and research tools - UK and international shares, funds, exchange traded funds (ETFs), bonds and gilts plus investment ideas, tools and analysis
  • You can now use the mobile banking app to check your investments and everyday banking with one simple sign in.
AJ Bell logo

Our SIPP is administered by AJ Bell.
 

Not found what you’re looking for?

Pensions are a long-term investment. The retirement benefits you receive from your pension account will depend on a number of factors including the value of your account when you decide to take your benefits which isn't guaranteed, and can go down as well as up. The value of your account could fall below the amount paid in. Tax treatment depends on individual circumstances and may be subject to change in the future.

Start your SIPP

You will just need your address, debit card details, national insurance and a printer to print our application form.

Open a SIPP

 

AJ Bell Management Limited is the Scheme Administrator of the Halifax Share Dealing SIPP. AJ Bell Management Limited is registered in England No. 3948391. Registered Office: AJ Bell Management Limited, Building 4, Exchange Quay, Salford Quays, Manchester, M5 3EE. Authorised and regulated by the Financial Conduct Authority and on the FCA register under FCA registration number 211468. Sippdeal Trustees Limited is a wholly owned subsidiary of AJ Bell Management Limited, registered in England No. 4050222. Registered Office: AJ Bell Management Limited, Building 4, Exchange Quay, Salford Quays, Manchester, M5 3EE. Sippdeal Trustees Limited does not conduct any regulated activities, and is, therefore, not regulated.

Dealing and stock broking administration services are provided by Halifax Share Dealing Limited. Registered in England and Wales no. 3195646. Registered Office: Trinity Road, Halifax, West Yorkshire, HX1 2RG. Authorised and regulated by the Financial Conduct Authority under registration number 183332. A Member of the London Stock Exchange and an HM Revenue & Customs Approved ISA Manager.