Whether you're already a Rathbones client or you're new to Rathbones, we can help with setting up a SIPP for you or migrating an existing SIPP you have to us.
Your pension. Your future. Your way.
Planning for retirement is one of life’s most important financial decisions. The Rathbones SIPP is designed to give you flexibility, control and confidence — whether you’re thinking about consolidating your pension pots or reviewing your current arrangements.
On this page we explain how our SIPP works, what makes it different, how to open one with us and how we support you throughout your retirement journey.
A Self-Invested Personal Pension (SIPP) gives you more freedom over how your pension savings are invested. It’s a tax-efficient way to save for your future, with the added benefit of choosing how and where your money is invested.
With a SIPP, you can:
Save tax-efficiently
Contributions may receive tax relief, helping your savings go further.
Invest with flexibility
Choose regular or one-off contributions, and access a wide range of investments, guided by your investment adviser.
Plan for the long term
Your pension is locked away until age 55 (rising to 57 from April 2028), helping you build a lasting retirement fund tailored to your lifestyle and goals.
Support your loved ones
Your pension can be passed on tax-efficiently, often outside of your estate for inheritance tax purposes*.
* Inheritance tax (IHT) does not currently apply to death benefits from pension plans. However, following changes announced in the Autumn Budget 2024, from 6 April 2027, unused pension funds and death benefits will generally be included in the value of an individual’s estate for IHT purposes, unless exempted. Transfers to a spouse or civil partner will remain exempt. Clients should seek professional advice to understand how these changes may affect their estate planning.
Tax rules and legislation can change. This information reflects our understanding of current law and HMRC practice and should not be considered financial advice. Tax treatment depends on your individual circumstances which could change in the future.
What makes the Rathbones SIPP different?
We’ve built the Rathbones SIPP around what matters most to you — clarity, confidence and personal service.
Personal service you can trust
A SIPP team (client service team helpline with dedicated administrators) is available throughout the week to answer your questions and support you every step of the way, working closely with your Investment Manager or Financial Adviser.
Clear, competitive fees
You’ll only pay for the services you use — with no hidden costs and straightforward pricing.
Strong governance
Our Reporting and Review Team ensures your pension is managed in line with UK regulations, keeping you informed of any changes that may affect you.
We use a UK-registered pension scheme, governed by a Trust Deed and Rules, which offers more flexibility and control, which may be better suited to your needs.
Online access
View your portfolio anytime through MyRathbones, our secure client portal.
Our SIPP is not a stakeholder pension. Stakeholder pensions follow government rules on charges and access and may suit some investors — but a SIPP offers more flexibility and control, which may be better suited to your needs.
How it works – our process
Whether you work with an Investment Manager and Financial Adviser or prefer to manage your own decisions, our dedicated SIPP team is here to ensure your pension is handled smoothly and efficiently, providing ongoing support every step of the way.
Saving for retirement – how we help
Accepting regular or one-off contributions from you, your employer or a verified third party
Reclaiming basic rate tax relief on your behalf
Helping you consolidate existing pensions (with advice where required)
Making funds available for investment quickly and securely
Supporting your retirement – how we help
Providing personalised illustrations to help you understand your options
Offering flexibility in how you take your pension
Calculating and arranging tax-free cash payments
Managing your income drawdown payments
Keeping you informed
Annual statements showing fund value, transactions and charges
Clear information about retirement options and risks
Easy access to your portfolio via MyRathbones
Why choose Rathbones?
We believe in long-term relationships, consistent results and doing the right thing for our clients.
Focused on your future
We’re here to help you build a retirement plan that works for you — not just today, but for the years ahead.
Easy to get started
Our team will guide you through the application process and provide all the documents you need.
Flexible ways to connect
Meet us in one of our nationwide offices, at your home or over a video call — whichever suits you best.
Various investment options available
Whilst the majority of Rathbones SIPPs use Rathbones' discretionary service for their investments, we offer several options for clients and advisers, each delivering a different level of investment advice and personalisation.
Key features of the Rathbones SIPP
Feature
Details
Minimum Investment
£100,000 (there are no minimum contribution limits).
Contribution Types
Member, Employer, Verified Third Party.
Payment Methods
Single (bank transfer/cheque), Regular (standing order).
Lump Sum, Beneficiary Drawdown, Annuity Purchase - learn more about these terms in our glossary below.
Investment Management
Rathbones Investment Management Ltd
Advice Requirements
Financial advice typically required, except for SIPP-to-SIPP transfers.
Most pension transfers require regulated financial advice, especially when moving from a scheme with safeguarded benefits. However, if you’re transferring from one SIPP to another and there are no guarantees or complex features involved, advice may not be mandatory. Even so, it’s often worth speaking to a Financial Adviser to make sure the transfer suits your long-term goals.
Investment Fees
Rathbones SIPP fees are in addition to any charges payable for Investment Management & Advice Services.
Annual SIPP Administration Fee
£300 per year plus VAT (in addition to any advice fees you may already pay).
Annual Income Drawdown Fee
£150 per year plus VAT (in addition to any advice fees you may already pay).
Ad hoc Tax-Free Lump Sum Fee
£100 per event plus VAT (in addition to any advice fees you may already pay).
Important documents
Before applying for a SIPP, please make sure you have read the documents below.
Apply to open a new SIPP, migrate an existing SIPP or contact us with a question
Take the next step
To enquire about opening a SIPP or moving an existing SIPP to Rathbones, please speak to your Rathbones contact, call our new enquiries team on 0207 399 0000, or complete the form below and they'll get in touch.
Questions answered and terms explained
FAQs
Frequently asked questions
A Self-Invested Personal Pension (SIPP) is a type of pension that gives you more freedom over how your pension savings are invested. Unlike standard personal pensions or workplace pensions, which usually only allow you to choose broad categories to invest in, a SIPP lets you (or an advisor you appoint) choose and manage the individual investments your pension holds. With a SIPP, you can:
Save tax-efficiently (contributions may receive tax relief)
Invest flexibly (choose regular or one-off contributions, and access a wide range of investments)
Plan for the long term (you can access a SIPP from the age of 55, rising to 57 in 2028)
Support your loved ones (your pension can be passed on tax-efficiently)
How much you can contribute depends on your individual circumstances. Tax relief is available on contributions up to 100% of your earnings (or £3,600 if you earn less). There’s an annual allowance, currently £60,000 for most people, but you may be able to contribute more, or less, than that.
Yes, you’re in control. You can pause, reduce or increase your contributions at any time.
Yes, the Rathbones SIPP accepts contributions from you, your employer, or a verified third party. Both regular and one-off contributions are allowed.
Yes, you may be able to “carry forward” unused pension allowance from the last three tax years. If you’ve earned enough, this means you could contribute more than the usual annual limit and still receive tax relief. You don’t need to apply, but you must meet certain conditions (such as having been a member of a UK-registered pension scheme during those years, and your earnings must support the total contribution).
Yes, you can usually transfer most types of UK pensions into your SIPP. This can help you keep everything in one place and make managing your retirement savings easier.
Some pensions have guarantees or benefits that you might lose if you transfer. An adviser can help you understand what’s at stake before you make a decision.
You can start withdrawing from your SIPP from age 55 (rising to 57 in 2028). You can take up to 25% of your pot tax-free, and the rest is taxed as income.
You cannot return your tax-free lump sum after withdrawing it.
Your SIPP doesn’t disappear — it can be passed on to your chosen beneficiaries. If you die before age 75, they can usually receive it tax-free. After 75, it’s taxed at their income rate.
You can nominate one or more beneficiaries, although this nomination is not binding on the SIPP Trustees. It’s important to keep this up to date, especially if your circumstances change.
Yes, you have 30 days to cancel your SIPP after it’s set up. If you do, any contributions will be returned, though the value may go down if investments have already been made.
If you decide to cancel, we may deduct charges for any services that we have provided during the cancellation period. You may not get back what you have put in and where investment of your money has taken place, you will receive the current value of the investment at that time. Also, where we have facilitated the payment of adviser charges, these may be non-refundable.
Glossary
Pension terminology explained
Your annual allowance is the maximum amount you can contribute to your SIPP each tax year while still receiving tax relief. For most people, it’s currently £60,000 — but it could be lower if you’re a high earner or have already started taking money from your pension.
If you go over the allowance you might have to pay a tax charge on the excess. But you may be able to use carry forward to cover the extra, using unused allowance from the previous three years.
When you purchase an annuity, your funds are paid to an insurance provider in exchange for a guaranteed income, usually for the rest of your life. You can choose from a range of options to suit your needs, such as continuing payments to a spouse or partner after your death. Annuity income is usually taxable, and once you have bought an annuity you usually cannot change your mind, so it’s important to consider your options carefully.
A SIPP for the beneficiary of the original SIPP owner, who has died. This lets someone who inherits a pension continue to hold it in a SIPP and take income or withdrawals over time, rather than receiving the money all at once.
Capped drawdown is a legacy, taxable withdrawal method with income limits. Only available if you set it up before April 2015.
Carry forward lets you use any unused pension allowance from the last three tax years. If you’ve earned enough, it means you could contribute more than the usual annual limit and still receive tax relief.
You don’t need to apply — but you do need to meet certain conditions. For example, you must have been a member of a UK-registered pension scheme during those years, and your earnings must support the total contribution.
Drawdown allows you to take flexible, taxable withdrawals from your pension while keeping the remaining funds invested. There is no limit on how much you can withdraw, but the value of your pension and future income are not guaranteed.
Your Lump Sum Allowance (LSA) / Lump Sum and Death Benefit Allowance (LSDBA) are limits on tax-free withdrawals and lump sums payable after death. For most people these are £268,275 and £1,073,100 respectively – but it could be higher if you have protected your pension previously.
The Money Purchase Annual Allowance (MPAA) limits future contributions after accessing pension benefits. It's currently £10,000.
Some pensions come with valuable guarantees – like a set income for life or a protected retirement age. These are known as safeguarded benefits. If you’re thinking about transferring a pension with these features, you’ll need to take regulated financial advice first, to help you understand what you might be giving up.
If you’re a high earner, your pension allowance may be reduced. This is the tapered annual allowance. It’s designed to limit how much tax relief you can receive on pension contributions each year.
If your total income (including salary, bonuses and pension contributions) is over £260,000, your annual allowance may gradually reduce from £60,000 down to a minimum of £10,000. The higher your income, the lower your allowance.
You still might be able to use carry forward from previous years to top up your contributions. We can help you check what’s available and make the most of your allowances.
The tax-free element of your pension – normally 25% of its value - is known as your tax-free lump sum.
Uncrystallised Funds Pension Lump Sum (UFPLS) are a way to take a combination of tax-free and taxable lump sums from your pension.
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