Retirement savings
- It's easier to keep track of organised savings
- Add to your savings in a tax-efficient way
Simple and tax-efficient ways to save
Stocks & Shares ISA
You can save up to £20,000 each tax year with no income or capital gains tax to pay on any investment growth.
Self-Invested Personal Pension
Your annual pension allowance effectively gives you at least a 20% government top up on your contributions.
General Investment Account
A flexible way to invest with no upper limits. Unlike an ISA and pension, there are no tax incentives to save into a GIA.
Transfer your savings
You can transfer the value of your savings from another provider. Keep them all in one place to make them easier to manage.
Simple investment choices
Our range of ready-made investment portfolios is designed to meet the needs of different types of investor.
Help when you need it
Our Savings Specialists can help with any questions you have. Or we also offer regulated financial advice if you need it.
Learn more about saving for retirement
A Self-Invested Personal Pension, or SIPP for short, is a personal pension. It’s not managed by your workplace, so you can choose:
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- Who you take your SIPP with
- How much money you invest and when (subject to the maximum government allowance across all pensions of £60,000 per year)
- How you invest your money
- The fees and charges you’re prepared to pay
You might open a SIPP if you’re self-employed, or in addition to your workplace pension if you’re keen to use as much of your pension allowance as possible. The benefit is making the most of your 20% pension tax relief from the government. So for every £8 you pay in, the government will pay in £2.
You could also open a SIPP to combine older pensions in one place. That can help you manage your retirement savings, which makes it easier to plan and involves less admin. It could also save you money in fees.
You wouldn’t transfer a workplace pension to a SIPP if you’re still working there and contributing to it. And you’re unlikely to invest in a SIPP instead of a workplace pension because you would miss out on any employer contributions.
ISA stands for Individual Savings Account. It’s a place you can save or invest money and it comes with a government tax incentive. The benefit of the tax incentive is that you won’t pay any capital gains tax on your savings growth, or income tax when you come to spend your savings. This can make a positive difference when you’re saving for the future.
You can invest up to a maximum of £20,000 in total across one or more ISAs each tax year. This limit is set by the government and can change.
There are different types of ISA available in the market. They include a Stocks & Shares ISA, Cash ISA, Junior ISA, Innovative Finance ISA, and Lifetime ISA (if you’re aged between 18 and 40 and plan to use your savings to buy your first home). Our ISA is a Stocks & Shares ISA. We don’t offer the other types of ISA.
A General Investment Account, or GIA for short, is a flexible place to invest money. There are no upper limits and you can withdraw money when you need it. It doesn’t offer any tax incentives like an ISA or pension. So if you’ve not used up your tax allowances this tax year, you should consider doing that first.
Our investment portfolios are designed to suit the needs of different types of investor, from the cautious to the adventurous. All you need to do is choose one that best meets your needs.
The portfolios contain a range of funds that invest across different asset types (such as equities and bonds), different sectors (such as manufacturing and technology), and different regions (such as Europe, North America or Asia). This approach reduces the possibility of losing money.
The funds held within the portfolios are passive funds (sometimes called index funds). They aim to track the performance of an index or group of indices. An index is a collection of companies that meet a criteria. For example, the FTSE 100 is an index made up of the 100 most valuable companies in the UK. If the overall value of those companies increases, the value of your investment is likely to increase too. And if their overall value falls, your investment will likely fall too.
What would you like to do next?
Speak to a Savings Specialist
If you've been introduced to us by a financial adviser, you should have a link to our transfer form. For more information about the service we offer, speak with one of our Savings Specialists.
Transfer other savings
Once you've opened an account, you can transfer the value of other ISAs, pensions and investment accounts. Then you'll see everything in one place so you know where you stand and can plan for the future.
Important information
Remember that the value of your investment can go down as well as up and you could get back less than you invest. The information on this website should not be taken as a recommendation, advice or forecast. However, we do offer regulated financial advice if you're unsure about investing. Ask our Savings Specialists for more information about this service.
The tax you pay will depend on your personal tax position, and tax rules are subject to change by the UK Government. This is not tax advice. If you need more information, please speak to a tax adviser or an accountant.