A pension is a long-term investment. Its value can go down as well as up and could be worth less than was paid in. Laws and tax rules may change in the future. Your own circumstances and where you live in the UK will also have an impact on tax treatment.

Is a SIPP right for you?

A SIPP may be right for you, but we have other pension options too. Our Active Money Personal Pension (AMPP) could be right for you if you want to pick your own funds but aren’t interested in the widest range of options.

Let’s see how the SIPP and AMPP compare:

SIPP

This could be a good option if you have the confidence and time to pick and manage your own investment options. With a SIPP you will:

  • Choose from thousands of funds, stocks & shares and commercial property if you arrange your plan through a financial adviser
  • Need to regularly review your investments
  • Pay in a minimum of £240 per month or make an annual payment of £2,400
  • Your payments will be topped up by HMRC with tax relief

AMPP DIY Option

This could be the right pension plan for you if you want to make your own investment choices. The Active Money Personal Pension gives you fewer options than a SIPP. With a DIY option AMPP you will:

  • Choose your investments from hundreds of pension funds
  • Need to regularly review your investments
  • Pay in a minimum of £80 a month or make an annual payment of £800
  • Your payments will be topped up by HMRC with tax relief