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SIPP Eligibility
In order for you to pay contributions into a SIPP, you must first be under the age of 75. Then you must fall into one of the following categories:-
- be a resident or ordinarily resident in the UK at some time in the relevant year, or
- be a Crown Servant, or the spouse of a Crown Servant.
You may establish a SIPP for the sole purpose of receiving a transfer payment from another approved or acceptable pension scheme.
An individual may also contribute to a SIPP whilst accruing benefits under an occupational scheme at the same time, only if they:-
- are being provided with death in service benefits only under the occupational scheme.
- can satisfy the following conditions in relation to the year in question:-
- At some time in the year, they are either resident, or ordinarily resident in the UK, or are overseas as a Crown Servant or as a spouse of a Crown Servant.
- They have not been a Controlling Director of a company at any time in the year or in any of the five tax years preceding it.
- In at least one of the five tax years preceding the year in question, they had aggregate grossed up remuneration not exceeding the remuneration limit (currently £30,000) for that earlier year.
- Are being provided with contracted out benefits only under the occupational scheme
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