How do I make personal contributions to my pension?

You can make two types of personal contributions to your pension:

  1. A lump sum payment using your debit card or instant bank transfer option. To do this, head to the ‘single payment’ page from within your account. The minimum lump-sum amount you can contribute to an AJ Bell Self-invested personal pension (SIPP) or Ready-made pension is £500, including tax relief.
  2. A regular payment using a direct debit. To arrange this, select ‘regular payments’ in your AJ Bell account. You can make a minimum monthly contribution of £25 and a maximum of £4,000.

You don’t have to contribute additional funds if you transfer from another pension scheme.

Can I contribute to my SIPP and other pensions?

You can contribute to your SIPP or Ready-made pension and other pensions at the same time. However, you must not contribute more than the annual allowance across all types of pensions, including employer-sponsored pensions. The annual allowance for most people is £60,000.

If your pension contributions exceed your allowance, you’ll be subject to an annual allowance charge (AAC). For more information on this charge and how to pay it, please read our guide to scheme pays.

Please remember that tax rules can change, and other factors may affect how much you can pay into your pension.