New TDDI SIPP (coming soon)

  • Straightforward pricing with a fixed annual fee
  • A vast choice of investments and currencies available
  • Provided in association with specialist pensions administrator Barnett Waddingham

Choose us for your pension

Designed for those who want to take control of their retirement planning by choosing where, when and how their pension is invested, the TDDI SIPP means you can:

  • Create your ideal mix of investments, including UK and International shares, ETFs, Funds and Bonds

  • Use our free research tools to help track down the investments that meet your aims

  • Trade online at our lowest rate for at least 3 months. See our Rates & Charges

  • Minimise the risk of currency movements by holding and trading in up to nine different currencies, including: GBP, US Dollar, and Euro

  • Benefit from expert administration and support when you need it

While it is a benefit that you can hold your cash in nine different currencies in our SIPP, it is worth remembering that the value of international investments may be affected by currency fluctuations, which might reduce their value in sterling. We may receive two elements of commission in relation to international dealing - Trading Commission and our FX Charge.  It's worth familiarising yourself with our Rates and Charges for full details of the relevant costs

A SIPP won’t be the right choice for everyone...

But it could be right for you if:

  • You’re the type of person who likes to make your own investment choices

  • You want to manage your retirement planning, your way

Just like other pensions, the TDDI SIPP allows you to:

  • Harness the power of tax relief on your pension contributions

  • Bring together other personal pensions

  • If you’re under 75, start your SIPP but only access your pension from age 55 (57 from 2028)

The TDDI SIPP is best suited to investors who have sufficient knowledge and experience to make their own investment decisions. It does not include assets that are not available via the stock market, such as direct investment in commercial property. We do not provide investment or tax advice so if you’re not sure whether a SIPP is right for you, we recommend you seek independent advice from a qualified adviser.

Administration you can rely on…at a single, flat price

Managing your own pension shouldn’t eat into your retirement pot.

  • A simple fixed annual administration fee; and no transfer-in fees

  • £100 +VAT pa whilst you're building your pension pot and £200 +VAT pa once you start taking your pension benefits

  • Plus, our great value share dealing rates mean you can invest cost effectively - from £1.50 per purchase with our Regular investment service

Rates and charges at a glance

  • Invest in Shares, ETFs and Investment Trusts at our lowest share dealing rate in your first 3 months. After the 3 months we’ll move you onto our Active, Frequent or Standard rate depending on how often you trade.

  • There is a single flat, annual fee of just £100+ VAT to cover the administration of the SIPP.

  • For more detail about the cost of the SIPP, visit our Rates and Charges page

How much can I contribute?

  • You can generally receive tax relief on contributions up to 100% of your earned income each year up to a maximum of £40,000.

  • If you have no UK earnings, or are earning less than £3,600 a year you can still pay contributions up to £2,880 and we will claim tax relief of £720.
  • Regular or one-off contributions to your SIPP may help to increase your income at retirement and bring you closer to your retirement goals.

  • You can carry forward any unused allowance from the previous three tax years.

  • The Lifetime Allowance is currently £1m.

If you have an income of more than £150,000 you are restricted in the allowance available to you with a sliding scale being applied to the annual limit for the 2016/17 tax year.

The calculation of income is complex. It isn’t simply based on earnings from employment or self-employment, meaning you may need to contact a financial adviser or accountant to establish exactly how much you can pay into your pension.

As a guide, you will be considered a high-income individual if your ‘adjusted income’ is more than £150,000.

‘Adjusted’ income means; you have ’Threshold Income’ e.g. base salary, bonus, rental or investment income that total over £110,000 and then employee and employer pension contributions are added to this amount. This gives you your ‘Adjusted Income’ figure.

If your ‘Adjusted Income’ is greater than £150,000, your annual allowance will reduce by £1 for every £2 of ‘Adjusted Income’ up to an income £210,000, when the annual allowance is set at £10,000. This is known as your Tapered Annual Allowance.

See table below:

Annual Income  Annual Contribution Allowance
Up to £150,000 £40,000
£160,000 £35,000
£170,000  £30,000
£180,000  £25,000
£190,000  £20,000
£200,000  £15,000
£210,000+ £10,000


 

The tax treatment of a SIPP is based on individual circumstances and may change in the future.

Sign up for updates and get a free copy of Retire In Style

If you're keen to be informed when the new TDDI SIPP is available, fill in your details below.

As well as being updated, we'll also send you a copy of Retire In Style. From the same publishers as Moneywise, this 80+ page magazine tackles all of the most pertinent points affecting pensions at the moment, including a 16-page income guide too.

The investments made within the SIPP can fall as well as rise and you may end up with a fund at retirement that's worth less than you invested.

Like all pensions, the treatment of tax depends on individual circumstances and may change in the future, and you need the necessary experience and knowledge to understand the product features explained in the Key Features Document which you'll see when applying. You’ll also need to understand the pension projections and effects of charges set out in the Key Features Illustration.