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Company pension - Same account as personal pension or different one?

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    Company pension - Same account as personal pension or different one?

    Can the pension contributions from the company go into same account as my personally set up SIPP? Or does it need to be a completely different one?

    How does this generally work? Can I just setup a DD on the company account or transfer by faster payment when ever I want to this pension account using some kind of reference code? Or perhaps pay directly by using a VISA card on the pension providers site?

    #2
    Originally posted by Optimus Prime View Post
    Can the pension contributions from the company go into same account as my personally set up SIPP?
    Yes.

    Originally posted by Optimus Prime View Post
    How does this generally work? Can I just setup a DD on the company account or transfer by faster payment when ever I want to this pension account using some kind of reference code? Or perhaps pay directly by using a VISA card on the pension providers site?
    Ask the SIPP provider about the payment options. There should be no need for a DD unless you actually want to make regular contributions. The payment needs to be direct from the company account and must be declared to the provider as such otherwise you would end up getting double tax relief which obviously HMRC would not be too happy about.

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      #3
      To make a company contribution to my Sippdeal Sipp, I print off a form their web site generates and post it in together with the company cheque. Before printing off the form I specify on it that it is an employer contribution, how much it is, and my employer address. After printing it needs to be signed and dated.

      Comment


        #4
        Originally posted by IR35 Avoider View Post
        To make a company contribution to my Sippdeal Sipp, I print off a form their web site generates and post it in together with the company cheque. Before printing off the form I specify on it that it is an employer contribution, how much it is, and my employer address. After printing it needs to be signed and dated.
        You prefer mailing in a cheque? Doesn't Sippdeal allow you to do the same thing online in any way?

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