Q&As
Am I eligible for the James Hay eSIPP?
Most people should be eligible for a James Hay eSIPP.
- You must be over 18.
- You may join and contribute to the eSIPP provided you are under 75.
- Residency is no longer a factor in determining if you can contribute to an eSIPP, but see below “How much can I contribute”.
- And, if you wish to be a member of your employer's pension scheme and open an eSIPP there will no longer be any restrictions on contributing to both at the same time.
Do I need a minimum investment to set up an eSIPP?
There is no minimum amount required.
How much can I contribute?
Whilst HM Revenue and Customs do not apply any limit to the amount of contribution that can be paid, they do limit the tax relief available. The maximum that you can pay to the James Hay eSIPP is restricted to the maximum tax relievable contribution. This will depend on your residency. For example, if you are a UK resident you will be able to have tax relief on the higher of £3,600 or 100% of earnings.
More details can be found in the SIPP Literature area
of our brochure site at www.jameshay.co.uk
Can I take an income?
You can normally start to take an income from the eSIPP as early as your 50th birthday (rising to age 55 from 2010) and you do not need to retire to choose this option.
Provided you have not used up all your lifetime allowance you are entitled to take all or part of your uncrystallised eSIPP fund to provide an income. This flexibility allows you to phase your retirement.
Can I purchase property within my eSIPP?
The eSIPP does not allow you to invest directly in commercial or residential properties.
If you do wish to invest in commercial or residential property please visit the James Hay website
for more information about which James Hay SIPP products offer this investment option.
How do I find out more about the James Hay eSIPP?
You should find all the information you need within the SIPP Literature area
including the eSIPP Key Features document.
Alternatively, you can Contact Us
for more information.