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Self-Invested Personal Pension (SIPP)

A tax-efficient way to save for retirement.

Remember, the value of investments can fall as well as rise, and you could get back less than you invest. 

We don’t offer personal financial advice, so if you’re not sure about investing or how a pension works, seek independent advice. Tax rules can change and their effects on you will depend on your individual circumstances. Remember that you can’t access your pension savings until you reach the age of 55, however, the Government have announced an intention to link this age to 10 years prior to the State Pension age. If this passes into law, the minimum pension age will increase in the future.

What is a SIPP?

A self-invested personal pension (SIPP) is a type of tax-efficient personal pension that usually offers you access to a wider choice of investments than other types of pension.

  • You won’t be restricted to pension funds offered by any single pension provider, but instead can invest in a broad range of investments from a range of different providers
  • Your returns from investments within a SIPP are protected from income tax, tax on dividends and capital gains tax (CGT)
  • You can pick from a wide range of options when you take your pension benefits, including a cash lump sum, a flexible or fixed level of income – or you can combine multiple options.
  • You’ll receive tax relief at your marginal rate on an Annual Allowance, which for most people is £40,000 or 100% of your earnings, whichever is lower1. Find out more in our short video.

A SIPP will only be right for you if you’re confident making your own investment decisions and managing your pension payments against the relevant allowances. If you’re unsure, please seek independent advice.

Barclays SIPP explained

Why choose the Barclays SIPP?

Expertise

Barclays has more than 325 years of history and expertise in banking and investments

Our SIPP is provided and administered by AJ Bell, an award-winning pension provider. They will reclaim any basic rate tax relief you’re due on contributions, make income payments to you and generally ensure that your pension runs properly

Smart Investor provides access to tools, articles, videos and research to help you make your investment decisions and we will process your dividend and income payments.

Flexibility

Pay lump sums into your SIPP, or make regular contributions, whichever suits you best

Choose where to invest from Smart Investor from over 2,000 funds and Exchange Traded Funds (ETFs), investment trusts and shares

Manage your pension online whether you’re at home or on the go

Transfer existing pensions into a Barclays SIPP, potentially giving you access to a wider range of investment opportunities. Before transferring check that you won’t be giving up any valuable benefits from your existing pensions, that our SIPP administration charges aren’t higher than your current pension plans, and you won’t be liable for an exit penalty by your current provider. See our SIPP Factsheet [PDF, 204KB] for more information.

Support

Live Chat online support should you need any help or information

Contact us by telephone if you want to talk to someone about your SIPP with Smart Investor.

Remember, the value of investments can fall as well as rise, and changes in tax rules can affect your pension savings.

Apply for your Barclays SIPP

Log in to apply

If you have a Barclays Investment Account, Investment ISA or use Barclays Online Banking with a current account, just log in to apply for a Barclays SIPP.

Apply without logging in

If you don’t have a Barclays Investment Account or Investment ISA, and don’t use Barclays Online Banking with a current account, you can apply for a Barclays SIPP without logging in.

Smart Investor is an investment service for UK residents aged 18 or over. Our service is not available to US persons, even where resident in the UK.

Fees

What are the SIPP fees?

Our fees are transparent, so you can clearly see what you’re paying for.

The monthly Customer Fee (0.2% pa for funds and 0.1% p.a. on other investments) paid to Barclays Smart Investor is calculated based on the value of your entire portfolio, excluding cash. This fee covers the running of your investment account. You’ll also pay a transaction fee each time you buy or sell an investment. 

In addition to the Customer Fee above, there is a SIPP Administration fee. All SIPP accounts pay an AJ Bell Administration fee of £31.25 plus VAT per quarter, or part of a quarter (£125 + VAT p.a).

Other fees may apply depending on whether you’re still contributing to your SIPP or actively drawing from it. See full list of SIPP fees here. [PDF, 170KB]

How are the fees paid?

The fees can be collected from available cash within your portfolio and Barclays will pay the SIPP Administration fee to AJ Bell directly. No part of the Administration fee is kept by Barclays.  If you prefer, you can instruct us to collect your Smart Investor fees from your nominated bank account, rather than your SIPP.

Depending on your activity, additional SIPP charges may apply. You’ll only pay fees that relate to how you manage your SIPP.

View a full list of SIPP fees [PDF, 194KB]

Transfer pensions to us

If you have pensions elsewhere, you can transfer them to us at any time – but before you start, you’ll need a Barclays SIPP.

Transferring a pension doesn’t affect its tax-efficient status, but you should make sure that you don’t have to pay penalties or give up valuable benefits – and that you're aware of all the risks and drawbacks involved in this. Transferring existing pensions to your current employer’s pension scheme may be your best option, particularly if it offers the investment options you’re looking for, as you’re likely to pay lower charges.

We will not accept transfers of defined benefit pensions (e.g. final or average salary pensions) or schemes that include safeguarded benefits (such as guaranteed annuity rates). If you’re unsure whether to transfer a pension, seek professional independent advice.

Read an explanation of drawbacks and risks to be aware of when transferring pensions [PDF, 204KB]

Tax rules can change in future. Their effects on you will depend on your individual circumstances.

Retirement income calculator

What could your retirement income be?

Our retirement income calculator can give you an idea of how much you could be paid from your pension savings.

Learn more about SIPPs

The value of investments can fall as well as rise. You may get back less than you invest. Tax rules can change and their effects on you will depend on your individual circumstances.

Types of pension

Pensions can seem complex and daunting, especially if you’re new to them. But there are lots of options available to suit individual needs and circumstances. We take a look at the main types of pension and explain how they work.

What is a SIPP?

If you’re looking for greater control over how your retirement savings are invested, and you have investment expertise and the necessary time then a self-invested personal pension (SIPP) could be worth considering.

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Retirement might seem a long way off. And if that’s the case, then great, because you’re in the best position to start planning for what should be the longest holiday of your life.

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Your retirement journey

Where are you on your retirement journey? However far away it might seem, we’ve got the tools and support to help you plan for the longest holiday of your life.

FAQs

Other ways to invest

Always remember that investments can fall in value. You may get back less than you invest.

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Plan & Invest

Plan & Invest is a new service which creates and manages a personalised Investment Plan just for you. Whether your long-term goal is your child’s university education, retirement or just building a nest egg, all you have to do is tell us a bit about yourself and then, if you’re ready to invest, let our experts select and manage your investments.

Chat

Use our online chat service to discuss your query with a member of our team.

Call us

If you have any questions, you can give us a call on 0800 279 36672