JavaScript Warning

This site relies on JavaScript for critical functionality. Please enable JavaScript and reload the page.

What happens to my SIPP when I reach 75?

If you reach age 75 with money still in a pension pot, your pension will usually remain invested, with any income payments continuing to be made in the same way.

However, at age 75, your pension provider will carry out a check against your lifetime allowance, which they will contact you about. If, when that test is carried out, the value of your pensions is deemed to be above your lifetime allowance, you may face tax charges of up to 55% on the excess amount.

For more information, you can speak to Pension Wise, HMRC or a financial adviser to understand the amount of tax you may have to pay.