SIPP question

[cojak]

Moved from General

Hello,

I'm moving from self-employment to a permanent role. I currently have a VG SIPP which ideally I'd like to continue putting into.

The new perm role uses Standard Life contributing 5% and I'm to contribute 3% and it's an auto-enroll (unless one opts out I assume).

Surely it's more beneficial to keep paying out of my pocket now (rather than my Ltd. as previously done) to the SIPP rather than kick off a new pension.

That's as long as the company will pay into the SIPP.

How does one get the company to add to the SIPP and how do the govt pension additions work into this?

I'd have thought by starting a new pension alongside my SIPP it's not worth doing.

Has anyone had a similar issue?

Thanks in advance.

[Fred Bloggs]

OP, don't opt out of the work place pension. It's effectively free money going into your pension pot from your employer. If you build up a pot there and then move elsewhere, you're free to then transfer that accrued pot to your SIPP should you choose to do so.

[syrio]

If you can get your employer to make the contributions into your SIPP, by all means get them to do so. If they won't then let them open the new one. You can also make further payments into your current SIPP if you wish.

When you leave your employer, you will almost certainly be able to transfer that pension into your SIPP.

Basic rate tax on personal contributions is automatically claimed for you by your pension provider. Higher rate tax refunds requires you to claim it via self assessment tax return.

[RajaStyle]

If your employer is happy to make payments to your existing one then win win, you can continue to make payments personally and they contribute from your salary and add the 5% free contribution - Ideal scenario

If not then best to setup with them to ensure you get the free 5% contribution and contribute to your own one separately if you wish to do so. Transfer this new company pot if you ever leave to your exiting original one.