To create or manage your SIPP with Plum, you need to open a SIPP account first. To do this, please follow the steps below:

You will be asked whether you want to open a new SIPP account, or whether you’d like to open a new SIPP account and transfer in old pension(s) as well. If you don’t want to transfer an old pension now, you can always do this once you’ve opened your account at a later date.

You need to select your desired retirement age. We currently offer 4 ranges:

Please note that the UK government has set the age of 55 (rising to 57 in 2028) as the minimum age for withdrawing your money from your pension account. In case you need to withdraw your money earlier, please check this article.

You need to select the investment fund of your choice. For the time being, you can only select one fund for your pension. Investing in multiple pension funds will be available in the future.

You need to add your personal details including your name, last name, and your national insurance number. Some extra details may be asked for regulatory purposes. At this step, you are also able to add a beneficiary to your pension account if you want to. You can do this later as well.

If you have selected to transfer an existing pension in Step 4, you will be asked for details regarding your existing pension account. For more details, please check this article. If you want to create a whole new pension account with Plum, please skip this step and proceed to Step 9.

You need to review and agree to some necessary legal documentation. Your signature is also required at this step, before the creation of your pension account.

You can choose whether you want to automate your pension contributions through our Splitter tool. This is not necessary and it can be skipped - you will be able to do this later if you want to.

At that moment, you should be all set and ready to invest in your SIPP account with Plum.