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SavingThe UK pension cluster on one page. SIPP provider comparison, workplace pension trade-offs, transfer rules and retirement income projections.
Updated for the 2026/27 UK tax year.
Pensions are the most tax-efficient long-term wrapper available to UK savers. Contributions attract tax relief at your marginal rate. Growth inside the wrapper is tax-free. The first 25% of withdrawals from age 55 (rising to 57 from 2028) can typically be taken tax-free. The trade-off is illiquidity until pension access age.
This hub covers SIPPs, workplace pension trade-offs, transfers and retirement income projections.
HL, InvestEngine, AJ Bell, Vanguard Investor, Interactive Investor compared.
Open comparison →The widest UK platform.
Read review →0% platform fee DIY ETF portfolios.
Read review →Head-to-head.
Read comparison →Beyond SIPPs.
Open comparison →ETF-only category.
Open comparison →Understand how UK pensions actually work before optimising for tax or provider choice. These beginner guides cover the mechanics from first principles.
Complete beginner's guide — tax mechanics, fees, holdings, transfers.
Read guide →Why most UK employees need both — and how to combine them.
Read guide →Pension tax relief is the highest-return safe uplift in UK personal finance. Understanding the mechanics — and claiming what you're owed — meaningfully changes retirement outcomes.
Every band, every mechanism. Net Pay vs Relief at Source, salary sacrifice, claiming missed relief.
Read guide →Annual Allowance, tapered allowance, MPAA, Lump Sum Allowance, carry-forward.
Read guide →Most UK workers accumulate multiple pensions across a career. Consolidating into a SIPP simplifies management and often reduces fees — but safeguarded benefits and defined-benefit rules mean transferring wrong is expensive.
DC transfers, DB warning, safeguarded benefits, exit charges.
Read guide →Claim back up to 4 years of missed relief through Self Assessment.
Read guide →The withdrawal phase is where pension decisions become irreversible. Sustainable withdrawal rates, sequence of returns risk, and MPAA rules all matter.
Sustainable withdrawal rates, sequence risk, drawdown vs annuity, MPAA.
Read guide →By decade — 20s, 30s, 40s, 50s and the year before retirement.
Read guide →Project pot growth. Add 20-45% for tax relief on personal contributions.
Open calculator →Model salary sacrifice pension contributions.
Open calculator →Combine ISA and SIPP planning.
Open calculator →SIPPs and Stocks and Shares ISAs are complementary rather than competitive. A SIPP delivers tax relief on contributions but is taxed on withdrawal. An ISA is funded with post-tax money but withdrawn tax-free. For most UK savers, a mix optimises retirement flexibility — the SIPP for tax-locked long-horizon money, the ISA for flexible access and tax-free income in retirement.
Which wrapper wins — with real tax maths.
Read comparison →The post-tax alternative.
Open comparison →All ISA types.
Open hub →Both. Workplace pension for employer match and salary sacrifice NI savings. SIPP for investment choice, higher-rate tax relief capture, and consolidation of old pensions. See workplace vs SIPP.
Tax relief at your marginal income tax rate — 20% (basic), 40% (higher), 45% (additional) — on contributions up to your annual allowance (£60,000 or 100% of earnings). Higher-rate taxpayers must claim the extra 20% via Self Assessment. See pension tax relief guide.
No, except in exceptional circumstances (terminal illness). The pension access age rises to 57 in April 2028.
£60,000 or 100% of your relevant UK earnings, whichever is lower. Tapered down for very high earners. Carry-forward from previous 3 years available. See pension allowances guide.
Contact the receiving SIPP provider — they handle the transfer paperwork. Always check for safeguarded benefits (guaranteed annuity rates) before transferring. Defined-benefit transfers over £30,000 require FCA-authorised advice. See pension transfer guide.
This is general information, not financial advice. Pennywise Finance is not authorised by the Financial Conduct Authority. For decisions involving significant sums, consult an FCA-authorised adviser or the free MoneyHelper service.
For platform-led comparison covering ISA, SIPP and JISA accounts in one place, see Best Investment Platforms UK.