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Can you contribute to two different SIPPs in the same tax year?
hallmark
Posts: 1,499 Forumite
Embarrassing question but it hadn't even occurred to me you might not be able to do this? Are you allowed to contribute to two SIPPs in the same tax year? Specifically, salary sacrifice into one and personal contribution into the other?
Thanks
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Comments
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Absolutely, as long as you stay within your AA (or take advantage of carry forward).
Edited to add, and also within the limit of your income for that tax year.Signature on holiday for two weeks1 -
Yes you can, there’s nothing stopping you from doing this.
SIPPs don’t have the same restrictions as ISAs.1 -
Yes. No problem at all. You just need to keep within your AA and any carry forward. You're the one responsible for ensuring compliance, not the SIPP provider.
"Real knowledge is to know the extent of one's ignorance" - Confucius1 -
Maybe being a bit pedantic, but to be factually correct, you can contribute to multiple DC pensions in a year.
They could be a SIPP, or a personal pension, or a stakeholder pension, or a workplace pension etc3 -
You are turning into me.Albermarle said:Maybe being a bit pedantic, but to be factually correct, you can contribute to multiple DC pensions in a year.
They could be a SIPP, or a personal pension, or a stakeholder pension, or a workplace pension etc
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.1 -
Albermarle said:Maybe being a bit pedantic, but to be factually correct, you can contribute to multiple DC pensions in a year.
They could be a SIPP, or a personal pension, or a stakeholder pension, or a workplace pension etc
the OP only asked about SIPPs
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Yes, but other people read these threads, and SIPP tends to be a bit of a catchall term.A_T said:Albermarle said:Maybe being a bit pedantic, but to be factually correct, you can contribute to multiple DC pensions in a year.
They could be a SIPP, or a personal pension, or a stakeholder pension, or a workplace pension etc
the OP only asked about SIPPs0 -
This all day long ^^^Albermarle said:
Yes, but other people read these threads, and SIPP tends to be a bit of a catchall term.A_T said:Albermarle said:Maybe being a bit pedantic, but to be factually correct, you can contribute to multiple DC pensions in a year.
They could be a SIPP, or a personal pension, or a stakeholder pension, or a workplace pension etc
the OP only asked about SIPPs0 -
Specifically two SIPPs in this case. I'd always presumed there was no issue paying into two in the same tax year but I read a post on a different forum saying you couldn't so wanted to check.0
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