Take advantage of our great share dealing rates when investing for retirement, with a self-invested personal pension (SIPP).
- Other markets
- IG services
- Trading platforms
- IG analysis
£5 special commission
On UK shares if you’ve made 10 trades in the prior month1
£8 standard commission
Pay no more than £8 for UK shares
Administered by James Hay
A leading pension provider with a fully digital application process
Reward when you transfer
You could receive up to £250 when you transfer your existing pension, paid into whichever IG account you choose (outside of the IG SIPP)2
To open a SIPP with IG, first you’ll need a share dealing account with IG.
When you click to add a SIPP to your IG account, you’ll be taken to James Hay’s website to complete your application. Please note that it may take up to five days for James Hay to open your SIPP after your application is complete.
It’s free to open an IG account, but if you want to start trading via your SIPP you’ll have to open a Modular iPlan and pay an annual administration fee of £195 to James Hay.
Buying and selling shares and ETFs via your SIPP means getting the same low commission rates as share dealing. Pay just £5 commission on UK shares if you’ve made 10 trades in the previous month.1
Find the Modular iSIPP Charges Schedule here.
Find our full charges and fees here.
|IG SIPP opening fee||Free|
|Annual administration fee (payable to James Hay)||£195|
|Best commission rate (UK shares)1||£5|
|Standard commission rate (UK shares)||£8|
|Commission rate on US shares||
2 cents per share, minimum of $15
IG SIPPs are administered by James Hay, using their ‘Modular iPlan’ product. The Modular iSIPP is available as part of the Modular iPlan.
James Hay is a leading pension provider, trusted by nearly 56,000 clients to look after more than £19.4 billion in investments.3
We’ve teamed up with James Hay because the company shares our focus on using technology to help investors control their trading with speed and simplicity. That’s why you’ll be able to apply for your SIPP entirely online, and why you can use a digital signature to save days on your application.
For more details on the Modular iSIPP, take a look at:
SIPP stands for self-invested personal pension, a way of saving for your retirement which allows you to take control of your investments.
While other types of pension will restrict you to the set number of funds offered by your provider, a SIPP lets you invest in a wide range of investments. That means you can trade the markets, with any profits you make going into your pension pot. However, it also means putting your pension at risk if the markets move against you, which would affect the value of your SIPP and the benefits you would be able to take.
SIPPs are intended as a long-term investment and you must be prepared to keep your money invested and not have access to it, normally until at least age 55 (57 from 2028), which is when you can begin taking benefits from your pension under current UK law.
The tax benefits of a SIPP are the same as other types of pension, so you’ll get tax relief equal to your current income tax rate on contributions. Higher-rate taxpayers, for instance, are eligible for tax relief of up to 45% on contributions into a SIPP. However, tax laws can change and any future changes could affect the relevant tax relief you would receive on your subsequent contributions.
What are the tax benefits of a SIPP?
The tax benefits of SIPPs are the same as with other types of pension. You’ll get tax relief on contributions relative to your current tax rate. Please note, though, that tax circumstances can differ in individual circumstances. Contact James Hay for more information on the tax benefits of SIPPs.
Any investments you make in your SIPP will also be free from capital gains tax.4
Initial 20% tax relief
45% tax payers can reclaim
The above table shows the current tax benefits, however, tax rules can be subject to change. Any future changes to tax rules could affect tax relief on contributions, the taxation of your investments and the taxation of benefits when you come to take them.
How much can I invest in a SIPP?
You can invest everything you earn in a tax year into your pension without incurring a tax charge, up to a maximum of £40,000 for the current tax year. There is also currently a lifetime limit of £1 million.4 You can read more about contribution limits and the lifetime allowance here.
If your total income in a tax year exceeds £150,000, then you will see that £40,000 annual limit reduced, ‘tapering off’ by £1 for every £2 of income earned over £150,000. The minimum annual allowance you can receive is £10,000, if your total taxable income is £210,000 or higher.
There are other circumstances in which your annual limit may differ from the above.
Contact James Hay on 03455 212 414 for full details of taxes on your SIPP.
How do I withdraw my funds from my SIPP?
Unlike other IG accounts, you won’t be able to withdraw funds from your SIPP on the IG platform. Instead, you’ll have to contact James Hay to start withdrawing your funds.
SIPPs are subject to the same rules for withdrawals as other pensions, meaning that:
SIPPS are intended to provide an income in retirement, but there are a number of options available as to how you can access this income when you retire. For this reason, it is strongly recommended you consult a qualified financial adviser. If you need help finding a financial adviser in your area, you can search on unbiased.co.uk.
What can I invest in with an IG SIPP?
You can use your SIPP to invest in any of the available markets on our share dealing platform. That gives you access to 1000s of domestic and international shares and exchange-traded funds (ETFs).
What platforms and apps can I use to invest in my SIPP?
You can invest in your SIPP using any of our platforms and apps, including our desktop platform and apps for Android, iPhone, iPad and Windows Phone. To access your SIPP on your mobile device, you’ll have to have the latest version of the IG Trading app installed.
How do I transfer my investments into an IG SIPP?
Transferring your investments into your SIPP is simple, and can be done in two ways. First of all, you can let James Hay know that you have pension investments to transfer during your online application.
Or if you want to transfer investments after your SIPP is completed you can download, fill out and send a James Hay transfer form. When the transfer is complete you’ll see your portfolio on your account.
James Hay will not charge for transferring a SIPP, but will charge for contributions made in the form of investments not currently held in a SIPP. Find out more about James Hay’s charges.
There is no IG charge for transferring an existing pension from another provider, and we’ll reward you up to £250 for transferring investments to us. The reward is conditional on transferring an existing shareholding, ISA or SIPP to us.2
The decision to transfer an existing pension is complex and it is important you satisfy yourself that you are aware of the implications of transferring an existing scheme. You may give up rights to guarantees or lose valuable benefits from your existing scheme. The existing pension provider may also apply exit charges or may only transfer your pension via a cash transfer, which would mean that you would not be invested during the period of the transfer to the IG SIPP.
Please be aware the time taken for us to complete your transfer can vary and may be dependent upon the time taken for your current provider to release your holdings.
It is strongly recommend that you take advice from a suitably qualified financial adviser regarding transferring your pensions, particularly if you wish to transfer a final salary scheme as financial advice to proceed with the transfer will be required in these cases.
Find out more about transferring investments.
What is a Modular iSIPP?
The Modular iSIPP is James Hay’s flexible pension scheme, which enables you to plan for retirement by using a wide range of investment and drawdown options with the ability to open additional investment modules as and when they are needed.
The IG SIPP (Modular iSIPP) is a version of this product specially designed for IG clients who can take advantage of the range of online services as well as a discounted charging structure. The Modular iSIPP is part of the wider Modular iPlan service where James Hay offers a range of products and services for managing investments for retirement.
When you apply for an IG SIPP (Modular iSIPP) you’ll complete your application on James Hay’s site, where you’ll open a Modular iSIPP. You can then trade using your IG account within the SIPP, just like you would with your existing share dealing account or ISA. Your IG SIPP (Modular iSIPP) will be provided by and administered by James Hay: so any pension contributions, transfers, or other pension-related administration will be handled by James Hay.
What are the main risks of a SIPP?