SIPP
Business & Finance abbreviation · Personal Finance
| Stands for | Self-invested personal pension |
|---|---|
| Categories | Business & Finance |
SIPP stands for Self-invested personal pension, a personal finance abbreviation.
UK personal pension in which the holder chooses their own investments, such as funds, shares and investment trusts, while receiving tax relief on contributions. Basic-rate relief is added automatically by the provider, and higher-rate taxpayers claim the rest through self-assessment.
Example: I'm consolidating three old workplace pensions into a single SIPP.
Usage notes
SIPPs were introduced in 1989. Money can usually be accessed from age 55, rising to 57 in 2028, and normally 25% can be taken tax-free, with the rest taxed as income. Pronounced "sip."
Related abbreviations
More personal finance abbreviations
- Roth IRA – Roth individual retirement account
- RRIF – Registered Retirement Income Fund
- RRSP – Registered Retirement Savings Plan
- SEP IRA – Simplified Employee Pension individual retirement account
- SEPP – Substantially equal periodic payments
- SIMPLE IRA – Savings Incentive Match Plan for Employees individual retirement…
- SMSF – Self-managed super fund
- Solo 401(k) – One-participant 401(k) plan
- SWR – Safe withdrawal rate
- TFSA – Tax-Free Savings Account
- TOD – Transfer on death
- TSP – Thrift Savings Plan