Savings. Investments. Pensions. All in one place.
Later this year, we’ll be launching a Self-Invested Personal Pension (SIPP). A simple way to take control of your retirement, with your wealth app.
Capital at risk.
A SIPP (Self-Invested Personal Pension) is a type of personal pension.
Unlike a standard workplace pension where your employer chooses the provider and the funds, a SIPP allows you to choose exactly how your retirement savings are invested.
We’re putting the final touches on our launch to bring the seamless Chip experience to your pension.
This is the magic of a SIPP. For every eligible contribution you make, we add a 25% top-up in tax relief from the government (for basic-rate taxpayers).
Example: You pay in £800, and the government adds £200, giving you a total of £1,000 in your pot instantly.
If you’re a higher or additional-rate taxpayer, you can usually claim back an additional 20-25% through your Self Assessment tax return.
Absolutely. Most of us have pension pots from previous jobs that may not be right for us, often with high fees. With Chip, you’ll be able to bring all those old pots into one place so you can track your total retirement wealth in the app alongside your other savings. The ability to transfer in pensions will be coming soon after launch.
Yes. You can have as many SIPPs as you like. You can use a SIPP alongside your workplace pension to have more control over your total retirement strategy. The only thing to remember is stay within your annual allowance (generally the lower of 100% of your earnings or £60,000).
Chip is authorised and regulated by the Financial Conduct Authority. All your cash and investments are held by our regulated partner custodians. Additionally, like all our investment products, your pension assets are protected by the Financial Services Compensation Scheme (up to £85,000) should a firm fail, subject to eligibility.