Turning Your Pension into Gold: How to invest in gold through a SIPP / SASS
The options available for gold investment in retirement include investing in gold through your SIPP or SSAS. You can transfer part or all of your existing pension, or contribute to a new SIPP or SSAS.
Buying Gold Through Your Existing SIPP Or SSAS
The first way that individuals can invest in gold is through a SIPP, also known as a Self-Invested Personal Pension scheme. Alternatively, companies wishing to establish a pension scheme for a small group of trustees within the business must set up a Small Self-Administered Scheme (SSAS). A SSAS is an occupational pension scheme designed for fewer than twelve members and often has an independent professional trustee.
It is essential to ensure your SIPP or SSAS provider allows for investment in alternative assets such as physical gold. Once you have confirmed this with them, and assuming they agree, you can then open a separate account within your pension plan specifically for gold investments. Using the funds from your pension account, your chosen bullion dealer can help you select the most suitable gold bullion sizes / denominations for your circumstances and execute your gold pension investments to your account.
It is essential to follow HMRC rules and guidelines for gold pension investments to maintain the tax advantages associated with SIPPs and SSASs.
Once you have purchased your pension gold and it is securely stored (as required by HMRC), you can monitor its performance within your pension portfolio, with the comfort of knowing you've diversified your retirement assets with this precious metal.
If your existing SIPP or SSAS provider does not allow for investment in alternative assets such as physical gold, you will need to follow one of the next set of steps depending on whether you wish to transfer part, or the whole of your SIPP or SSAS, into a new SIPP or SSAS.
Transferring Part of Your Existing Pension to a New SIPP Or SSAS
To initiate this process, select a reputable SIPP or SSAS provider (who facilitates investment in physical gold) to guide you through the necessary paperwork and help set up the new pension account. Next, instruct your existing pension provider to transfer the desired amount into your new SIPP or SSAS. In some cases, your existing pension provider may not enable a partial transfer, in which case you will need to transfer the whole of your pension to your new SIPP or SSAS.
This process may involve some administrative steps and take a few weeks to complete. Once the funds are in your new SIPP or SSAS, you can make investment decisions according to your retirement goals, whether diversifying into gold, stocks and shares, property, or other assets.
Transferring The Whole of Your Existing Pension to a New SIPP Or SSAS
Contact your current pension provider and your chosen SIPP or SSAS provider to obtain the necessary transfer forms from both parties. Carefully review the terms and conditions, fees, and investment options the SIPP or SSAS offers. Complete the transfer request, providing accurate details about your existing pension.
Ensure compliance with any exit fees or penalties that may apply. Once submitted, your current pension provider will initiate the transfer process. The funds will be moved to your new SIPP or SSAS, granting you greater investment control.
Before proceeding with either option above, you may wish to seek professional advice to ensure the transfer aligns with your long-term financial strategy and that you understand the tax implications.
Making Contributions to a New SIPP Or SSAS
Once your account is set up with a new SIPP or SSAS provider, as per one of the set of steps above, you can contribute funds regularly or as a lump sum / sums, depending on your preferences and financial circumstances. Remember that tax authorities set annual contribution limits, so be aware of these to maximise tax advantages. Additionally, it's advisable to consult with a financial advisor to ensure your contributions align with your overall retirement and investment goals.
You can save for retirement in several ways, but only a pension can offer you generous tax breaks specifically designed to provide you with retirement income.
Sources:
https://www.gov.uk/tax-on-your-private-pension/pension-tax-relief;
https://www.gov.uk/guidance/claim-tax-relief-on-your-private-pension-payments;
https://www.gov.uk/government/publications/rates-and-allowances-pension-schemes/pension-schemes-rates;
12 Jan 2026 | Categories: Gold, Bars, Investment strategies, UK Gov, Pensions