Any point of starting a SIPP as wrapper in retirement

joeNZ

Audaxer said:

joeNZ said:

However, the thing that may push it over the edge is that I am within my personal tax allowance for this year (not so next year) so it looks like it may be worth opening the SIPP just to recycle the govt top-up this year then keep the SIPP for the marginal annual gain going forward. Is this feasible time-wise (ie will the cash top-up be provided in time for me to withdraw this tax year)?

You seem to be too late to make a contribution now and receive the tax relief this tax year, as the HL tax relief calendar shows that for contributions made between 6 March and 5 April, the tax relief will not be received until 21 May. You would have had to have made the contribution by 5 February to receive the tax relief in time to withdraw it before the end of this tax year.

Yep. Thanks, I guess I should have moved faster.