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A personal pension that gives you control over where your money is invested.
A SIPP is a type of personal pension where you choose and manage your own investments (shares, funds, ETFs, etc.) rather than having a provider-managed fund. SIPPs offer the same tax benefits as other pensions — basic rate relief added automatically, and higher/additional rate relief claimed through Self Assessment. They are popular with investors who want more control and flexibility.
This definition is for informational purposes only and does not constitute tax, legal, or financial advice. Rules may change and outcomes depend on your circumstances.
These GOV.UK and HMRC sources provide the official context for this glossary entry. The definition is educational and does not determine your individual tax position.