Self-Invested Personal Pension

SIPP Account FAQs

• How do I add money to my SIPP?

  Adding money to your HL accounts gives you more to save and is usually quickest online. Here's how to add money to a SIPP.

  Before you start

  • You cannot usually access money in a SIPP until age 55 (57 from 2028). Make sure you are comfortable with this and have read the SIPP Key Features, before you add money.
  • The debit card you use should be in the same name as the HL account holder, and registered to your home address.
  • If you're looking to top up by employer contribution then visit this page.

  How to add money on the website

  1. Log in online to see your accounts
  2. From the list of actions, select ‘Top up’ next to 'Self-Invested Personal Pension (SIPP)'
  3. Read the Key Features and terms and conditions before going any further
  4. Enter the amount of money you want to add (£1 minimum)
  5. Enter the 16-digit number across the middle of your debit card
  6. Enter your card’s expiry date in the format MM/YY
  7. Enter the CVC number. This is the last 3 digits on the back of the card
  8. Select ‘Make payment’ to confirm

  Add money online

  How to add money on the mobile app

  1. Select ‘Accounts’ in the bottom left corner
  2. Log in using the verification method you have set up
  3. Select 'Self-Invested Personal Pension (SIPP)'
  4. Read the important information shown
  5. Enter the amount you want to add then select ‘Continue’
  6. Enter the details of the debit card you want to use
  7. Select ‘Make payment’ to confirm

  What happens next

  Your ‘amount available to invest’ will update as soon as the payment is authorised, although the money may not leave your bank account until a few days later.

  You will be able to trade as soon as you have added money.

• How do I set up or amend a direct debit in my SIPP?

  Direct debits mean you can add money to an HL Self-Invested Personal Pension (SIPP) and invest automatically each month. Here's how to set up or amend a direct debit.

  How to set up a direct debit

  Before you start

  You will need your login details to hand. If you have not yet set these up by registering for online access, you can register here.

  You can invest a minimum of £25 per fund or share each month.

  How to set up on the website

  1. Log in online to see your accounts
  2. Select 'Self-Invested Personal Pension (SIPP)'
  3. Select the 'Monthly savings' tab from the options above your account overview
  4. Select 'Start a Regular Savings plan in this account now'
  5. Ensure you have read the Key Features
  6. If you wish to invest monthly in a fund, select 'Add Fund'
  7. Select a fund manager from the drop-down menu, then select a fund from the second drop-down menu
  8. Enter the amount you want to invest in your chosen fund every month. The minimum is £25
  9. To invest in a share every month, select 'Add Share'
  10. Select a share from the drop-down menu
  11. Enter the amount you want to invest in your chosen share every month
  12. If you want to leave any money uninvested each month, enter this amount in the last box then select 'Next'
  13. Add your bank details, then select 'Next' to confirm

  How to set up on the mobile app

  1. Log in to see your accounts
  2. Select 'Self-Invested Personal Pension (SIPP)'
  3. Select the 'Monthly savings' tab from the options above your account overview
  4. Select 'Start a Regular Savings plan in this account now'
  5. Ensure you have read the Key Features
  6. If you wish to invest monthly in a fund, select 'Add Fund'
  7. Select a fund manager from the drop-down menu, then select a fund from the second drop-down menu
  8. Enter the amount you want to invest in your chosen fund every month. The minimum is £25
  9. To invest in a share every month, select 'Add Share'
  10. Select a share from the drop-down menu
  11. Enter the amount you want to invest in your chosen share every month
  12. If you want to leave any money uninvested each month, enter this amount in the last box then select 'Next'
  13. Add your bank details, then select 'Next' to confirm

  What happens next

  You will see confirmation of your monthly savings plan on the next page.

  The money will be taken on the 7th of each month, and your trades made on the 10th.

  How to amend a direct debit

  It is possible to amend your regular investing instructions via the HL app or online.

  How to amend on the website

  1. Log in and select 'Self-Invested Personal Pension (SIPP)'
  2. Click on ‘Monthly savings’ and follow the instructions

  You can change your direct debit and investments at any time, but any changes made fewer than 7 working days before the direct debit is taken will apply from the following month.

  To cancel your direct debit you'll need to contact your bank.

  How to amend on the mobile app

  1. Download the free HL mobile app and log in
  2. Tap 'Self-Invested Personal Pension (SIPP)'
  3. Tap the menu in the top right hand corner
  4. Tap 'Regular Investing' and follow the instructions

• When can I withdraw money?

  Unless you're aged 55 and ready to choose a retirement option, you cannot withdraw from your SIPP.

  Take a look at your available retirement options to see how best to take money from your pension when you're ready.

• How much can my company pay into my SIPP?

  How much you can pay into your pension depends on your personal circumstances. Pension contributions are limited by the pension annual allowance which is £60,000 each tax year for most people. Any contributions made by you and your employer count towards it, as does any basic rate tax relief added by the government.

  More on pension contributions

View all SIPP FAQs