Retirement Planning

Self-employed UK workers do not benefit from auto-enrolment and need to set up their own pension provision. A SIPP can offer flexible contributions, tax relief at the saver's marginal rate and a wide investment range. This article explores how SIPPs fit self-employed circumstances, the …

Unlike a defined benefit scheme, the final value depends on contributions paid,Investmentperformance and charges, not on salary or service years.

A SIPP can pass to nominated beneficiaries on death, with tax treatment depending on whether the saver died before or after age 75. Under current rules, SIPPs typically sit outside the estate forInheritance Taxpurposes. The lump sum and death benefit allowance caps tax-free death …

Income depends on age, health, gilt yields, the shape chosen (single or joint life, level or escalating, with or without guarantee periods) and whether buyers exercise the open market option.

There is no single 'best rate' for everyone - buyers should compare quotes via MoneyHelper, regulatedBrokersor an FCA-authorised adviser, disclosing health and lifestyle information.

The driver has been a higherInterest Rateenvironment, with the Bank of EnglandBase Rateat 3.75% in May 2026 and long-dated gilt yields well above the levels seen during the post-2009 era.

Pension Freedoms give four mainOptions: full lump sum, drawdown,Annuity, or UFPLS, and these can be combined.