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Introducing Funds

Pension Transfers

Transfers are typically paid to the SIPP as cash but it is sometimes possible to transfer assets 'in-specie' from one scheme to the other.

At Davies & Co, we recommend that members speak to their professional adviser before transferring any pension benefits.

If members hold defined (final salary) benefits - or policies with built-in guarantees - it may be a legal requirement for them to obtain regulated financial advice before transferring.


A SIPP can accept Employer contributions and members can contribute personally, but there is no obligation or ongoing commitment to pay.

Generally speaking, Employer contributions are deducted as a business expense and reduce its tax liability, whilst members receive tax relief on their contributions at their marginal rate of income tax.

Employer contributions are paid gross. Personal contributions are paid net of basic rate income tax and we will reclaim this tax from HMRC under the Relief at Source arrangement.

Tax relief is given on personal contributions up to 100% of UK relevant earnings and employer contributions are potentially unlimited, however, exceeding the Annual Allowance (or Money Purchase Annual Allowance) set by HMRC means that the member may be subject to a tax charge.

Depending on an individual's circumstances, it may be possible to carry forward unused Annual Allowance and increase their scope for tax relievable contributions to be paid.

Individuals should seek guidance and input from us and their professional advisers to find the best contribution strategy.

Consideration should be given to the overall cap placed on pensions savings, known as the Standard Lifetime Allowance.  Funds drawn in excess of this Allowance will be subject to additional tax charges unless the member has registered for a form of transitional protection from HMRC that aims to reduce this liability.

Do you want to take control of your future?
Call us on 01480 220 776, or email: info@dacpensions.co.uk