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Pensions

Pension planning for
a Golden Retirement

Protect your pension

Gold Pension
Planning

Have you thought about a gold pension or buying gold for retirement?

If you are a UK citizen then you can benefit from up to 45% tax relief when investing in gold as part of your personal pension.

You can claim tax relief up to the maximum annual allowance which is currently £60,000 and furthermore, any gains will be Capital Gains Tax (CGT) exempt subject to rules and guidelines by the HMRC.

We offer investors investment grade gold bars with a purity of 99.99% produced by Argor Heraeus, a "Good Delivery Refinery." The allocated and segregated gold bullion is then stored in our highly secure vault insured through Howden, a leading Lloyd’s of London broker.

There are different approaches to buying physical gold with your pension:

  • Buy gold through your existing SIPP or SSAS
  • Transfer part of or the full value of your existing pension to a SIPP or SSAS
  • Make contributions to a new SIPP or SSAS

Why a SIPP or SSAS?

SIPP / SSAS

Individuals can invest in gold through a Self-Invested Personal Pension (SIPP) while companies must set up a Small Self-Administered Scheme (SSAS). A SSAS is an occupational pension scheme designed for fewer than 12 members and often has an independent professional trustee. Investment flexibility, choice and control are what make both these schemes attractive investment vehicles.

Tax Efficient

In 2006, the UK government allowed individuals to make gold bullion investments into pension plans to increase the choice of investments which can be made in tax efficient ways to prepare for retirement. Depending on your personal circumstance, you could be entitled to 45% tax relief on your pension contributions up to the maximum annual allowance of £60,000. Furthermore, investment gold is VAT free and any gains will be free of Capital Gains Tax (CGT).

Standard Asset

In 2014 the Financial Conduct Authority (FCA) added physical gold bullion to its list of standard assets making it an easily transferable investment should the worst happen to your pension provider. If you already have a pension you can add a new SIPP alongside it or you can transfer an existing pension into a SIPP.

Gold for Pensions

How can I
get started?

The Sharps Pixley Pension Gold is a specific product for SIPP and SSAS scheme investment. We have outlined the process and made it as simple as possible for you to get started with smart pension retirement planning today. Follow our 4-step process below and if you have any questions, please contact the team and we’ll be happy to help.

1.

CONTACT US

Instruct your Independent Financial Advisor (IFA), wealth manager or pension provider to contact us to set up your account. You will need to have an existing SIPP or SSAS scheme which permits you to hold physical gold in your pension scheme.

2.

OPEN ACCOUNT

We provide the relevant SIPP / SSAS application form which you and the provider must complete, sign and return to us. Upon receipt, we will open your Sharps Pixley Pension Gold account.

3.

INVESTMENT PROCESS

Once your account is set up we will contact you to discuss your investment and effect any gold trade required. We provide a trade confirmation to you and your trustee, who will authorise the transaction and instruct transfer of funds. Once funds are received your metal is segregated and allocated after which there is no counterparty risk.

4.

STAY INFORMED

Through our secure online platform you can buy, sell or simply monitor the performance of your gold investment. Hard copies of your account summary and performance are available upon request should you prefer not to have an online account.

 

Opening an account

To get your gold pension up and running, select from the application forms below.

SIPP Applications

Please download the SIPP Application Form, complete and send to your provider.

DOWNLOAD SIPP APPLICATION FORM

SSAS Applications

Please download the SSAS Application Form and submit to us.

DOWNLOAD SSAS APPLICATION FORM

St James Street London

Protect Your Pension

Physical gold is a proven safe haven asset that has historically retained its value against inflation providing long-term protection for your pension.

View information pack

Trading Platform

You will have your own online trading account.

Username: Test
Password: Password

View a demo

Eligible Gold Bars

HMRC requires investment grade gold bars with a purity no less than 99.5%. Our bars are all 99.99% purity from LBMA 'Good Delivery' refineries.

Get in touch.

Visit us at our showroom
54 St James's Street, London SW1A 1JT

 

Call us
T: +44 (0) 20 7871 0532

Frequently Asked Questions

 

Getting Started

How do I begin investing in physical gold through my pension?

Check your current pension arrangements – do you already have a SIPP (Self-Invested Personal Pension) or SSAS (Small Self-Administered Scheme) that enables you to invest in physical gold? Your existing pension scheme provider can answer this for you.

If the answer is ‘Yes’ – you can easily purchase eligible gold bullion through Sharps Pixley by opening an account with us

If the answer is ‘No’ – you will need to set up a new SIPP or SSAS (there are no limits on the number of SIPPs/SSASs an individual can hold) with an FCA regulated pension provider who facilitates physical gold investment. This is very straightforward, and we work closely with many such providers

You can also decide whether to transfer your current pension, either in part or in whole, into your new SIPP or SSAS. Your existing pension provider can confirm whether a part-transfer is possible, and if any costs are involved.

Once your new SIPP or SSAS, enabling physical gold investment, is open and funded, you can purchase eligible gold bullion with us.

Do I need an IFA to invest in physical gold through my pension?

If you are an experienced investor and/or already comfortable with your decision to invest in physical gold via your pension, there is no requirement to consult an IFA, unless you wish to do so. You need only (i) an FCA regulated pension scheme provider who can facilitate physical gold investment, and (ii) a trusted full-service precious metals brokerage with significant expertise in gold, preferably a full member of the London Bullion Market Association (LBMA), such as Sharps Pixley.

How can I contact you for assistance?

Please do get in touch with us directly if you have any queries about Pension Gold with Sharps Pixley - our dedicated pension solutions team are on hand to help and would be delighted to do so. Contact us on +44 (0) 207 871 0532 - or - email us at [email protected] 

Alternatively, feel free to visit us in person at our West End showroom and offices at 54 St James's Street, London SW1A 1JT. We operate an ‘open door’, walk-in policy between the hours of 09.00 - 17.00 Monday to Friday. No appointment is required, though contacting us ahead may speed up waiting times depending on how busy we are on the day you visit.

How do I open an account with Sharps Pixley?

Opening an account with us is straightforward – simply complete the application form. The form must be signed by you (as the scheme member) and an authorised representative of your SIPP or SSAS trustee company (as your pension provider). Your pension provider will then contact us on your behalf.

If you need any assistance along the way, don’t hesitate to contact us by phone or email - or visit us in person should you prefer.

Can I visit Sharps Pixley in person before making any decisions?

Yes, absolutely – we encourage you to visit us at our showroom and offices in the West End at 54 St James's Street, London SW1A 1JT to discuss all available options and address any queries in person should you prefer.

Which FCA-regulated SIPP or SSAS providers does Sharps Pixley work with?

Sharps Pixley collaborates with many FCA-regulated pension trustees who facilitate gold investments. A list of our pre-approved providers – in alphabetical order – is below. This list is growing, and we are always happy to consider working with other FCA-regulated pension providers new to Sharps Pixley.

Please note we are unable to make recommendations on which pension trustee you should work with, and suggest you conduct your own research directly with the companies below:

Does Sharps Pixley provide investment or financial advice?

No, we are not regulated to provide investment or financial advice to either the trustees or the members. We are a full-service precious metals brokerage and can assist you with information, product guidance, and execution of transactions.

If you wish, you can seek your own independent financial advice via your IFA - though this is not a requirement - or via your current pension provider depending on the services they offer.

If you don’t have an IFA and wish to consult with one before making any decisions, details of advisers are available at - www.vouchedfor.co.uk, www.findanadviser.org, and www.unbiased.co.uk. Alternatively, you can contact the Personal Finance Society on +44(0)20 8530 0852.

We are very happy to work with your chosen Financial Advisor to implement investment decisions and strategies you have agreed with them.

Tax Benefits

Disclaimer: The following content is for your information only and does not constitute financial advice or a recommendation and should not be considered as such. Although reasonable care has been taken in preparing the information set forth in this communication, Sharps Pixley accepts no responsibility for any errors it may contain or for any losses allegedly attributable to this information. For financial advice please speak to a registered Financial Advisor.

What are the tax benefits of holding gold in my pension, and when can I access them?

Investing in gold through a pension can be highly tax-efficient – via savings made in (i) Income Tax, (ii) Capital Gains Tax (CGT), (iii) Value Added Tax (VAT), (iv) Inheritance Tax (IHT) [until 6th April 2027], and (v) Pension Commencement Lump Sum (PCLS) rules.

Income Tax Relief – depending on your personal circumstances, you could be entitled to up to 45% Income Tax relief on your contributions into your Gold Pension, subject to the maximum annual allowance of £60,000 (for the current 2025/26 tax year).

For example, if you are a standard rate taxpayer (20%), a personal net contribution of £12,000 over the year (e.g., £1,000 per month) into your SIPP or SSAS will receive £3,000 in basic rate tax relief from HMRC for that tax year, resulting in a total gross contribution of £15,000 into your Gold Pension.

If you are a higher-rate taxpayer (40%), you can claim an additional 20% tax relief via your Self-Assessment tax return. This means you could reclaim a further £3,000, bringing your total tax relief to £6,000, making the effective cost of your £15,000 Gold Pension contribution, £9,000.

If you are an additional-rate taxpayer (45%), you can claim an extra 25% tax relief via Self-Assessment. This would mean reclaiming a further £3,750, bringing your total tax relief to £6,750, and making the effective cost of your £15,000 Gold Pension contribution, £8,250.

Note: Only the basic rate tax relief (initial 20%) is added to your pension automatically. Any higher or additional rate tax relief must be claimed through self-assessment.

VAT, CGT and IHT are all currently exempt on gold held within a pension – with IHT relief applying until 6th April 2027 under current rules.

In addition, a PCLS of up to 25% of the value of your Gold Pension (subject to a maximum Lump Sum Allowance (LSA) of £268,275 for the current 2025/26 tax year) is available as a ‘tax free lump sum’ on reaching normal minimum pensionable age (NMPA) which is currently 55 years, increasing to 57 years from April 2028.

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 
https://www.gov.uk/guidance/find-out-the-rules-around-individual-lump-sum-allowances 
https://www.gov.uk/hmrc-internal-manuals/pensions-tax-manual/ptm174100 

What happens in the event of my death?

Upon your death, your Pension Gold can be passed on to your nominated beneficiaries (you will need to complete a nomination form, declaring who you want the payments to go to, with your scheme administrator) – either as a lump sum, or as an ongoing pension. This will usually be free of inheritance tax [until 6th April 2027] provided you are under the age of 75 years at the time of death. Rules vary, so we recommend consulting with your pension trustee or financial adviser.

Sources:
https://www.gov.uk/hmrc-internal-manuals/pensions-tax-manual/ptm174200 
https://www.gov.uk/government/consultations/inheritance-tax-on-pensions-liability-reporting-and-payment 

Costs & Fees

What are the fees for buying and selling gold within my pension?

Purchase Fee – dependent on denomination/eligible gold bar size, typically a premium of between 1.5-2% is applied to the live gold market spot price when you buy your Pension Gold with us.

Sell (buy-back) Fee – we will always buy back any Pension Gold you purchase with us. Typically, and again denomination dependent, a discount of between 1-1.5% is applied to the live gold market spot price when you sell back your Pension Gold to us.

If you did not purchase your Pension Gold with us, but from an alternative broker and subsequently transferred it to us via your pension provider, the same Sell (buy-back) fees apply subject to variations dependent on the condition of your Pension Gold bars.

What are the fees for storing my Pension Gold with Sharps Pixley?

Storage Fee – we charge a market-leading storage fee of only 0.3% p.a. of the prevailing market value of your Pension Gold, including full insurance.

This is almost half the cost of our nearest competitors, and less than a third of the UK’s most long-established precious metals firm’s storage costs. When you consider the access, inspection rights, boutique service, insurance and overall level of security provided by our storage facilities (see below) this delivers exceptional value to our clients, unmatched in our industry.

An initial term of two years storage is paid in advance at the time of purchase, and a fee of 0.6% is added to the purchase price to reflect this. Any fees thereafter will accrue and be settled from sale proceeds when the gold is subsequently sold.

Our storage facilities offer purpose-built, state-of-the-art, fully secure (category-10 grade) vaulting and safe deposit box facilities. This provides world-class protection against theft, fire, and damage, providing ultimate peace of mind for your pension gold, at the lowest possible cost.

Our storage fees of 0.3% p.a. also compare favourably to the typical ongoing management fees of reputable providers of managed stocks and shares investment portfolios and fund managers.

Are there any additional management fees or costs I should be aware of?

Sharps Pixley does not charge ongoing management fees. However, your pension trustee may apply administration fees, which they will outline during your account setup with them.

Storage & Delivery

Where is my Pension Gold stored? And is it fully insured?

Your Pension Gold is stored in Sharps Pixley's purpose-built, state-of-the-art, high-security vaulting and safe deposit box facilities in Central London, providing full transparency and peace of mind. This is 100% allocated and segregated storage, insured through Howden, a leading Lloyd’s of London broker.

Can I collect, take delivery of, and store my Pension Gold at home or elsewhere?

HMRC require that any bullion held in your SIPP or SSAS must remain within a fully secure vaulted arrangement, such as those we provide.

Source: https://www.gov.uk/hmrc-internal-manuals/pensions-tax-manual/ptm125100 

Can I view my pension gold?

Subject to consent from your pension trustees / SIPP or SSAS provider, it may be possible for you to visit our vault and view your allocated holdings. Your pension provider should be able to confirm whether this is possible.

Glossary & Additional Information

What is a SIPP?

A SIPP (Self-Invested Personal Pension) is designed for individuals seeking greater control over their pension investments. SIPPs allow for a wide range of investment options, including physical gold bullion. A SIPP is intended to help you accumulate a sum of money which is then used to provide you with an income after you reach your chosen pension age. It can give you greater choice and control than alternative pensions, enabling you to choose your own investments. You can pay one-off or regular contributions into the SIPP to take advantage of the generous tax privileges available. You can also transfer existing pension benefits into a SIPP.

What is a SSAS?

A SSAS (Small Self-Administered Scheme) is a pension trust typically established by private and family run limited companies and partnerships for a small group of members, often directors or key employees. SSASs offer similar investment flexibility as SIPPs but are managed by trustees who are usually members of the scheme, affording them control and flexibility over the Scheme assets and investment choices in a tax efficient environment.

Which gold products are eligible for pension investment?

HMRC permits investment in gold bullion bars with a purity of no less than 99.5%. Sharps Pixley offers investment-grade gold bars with 99.99% purity from London Bullion Market Association (LBMA) accredited 'Good Delivery' refineries, which are fully eligible for inclusion in your pension scheme.

Source: https://www.gov.uk/hmrc-internal-manuals/pensions-tax-manual/ptm125100 

Is there a minimum or maximum amount of gold I can purchase within my pension?

There is no maximum limit of gold bullion you can hold within your pension, so long as it meets the required purity and form (see FAQ 16 above). However, your pension scheme trustees may apply a minimum investment amount. We recommend you check this with them in advance.

Who owns the gold I purchase through my pension?

The gold purchased is owned by your pension scheme trustees / SIPP or SSAS provider. Sharps Pixley acts as the custodian, facilitating the purchase, storage, and reporting, but does not hold any proprietary interest in your metal.

Will my pension gold be independently audited?

Yes, all pension gold held with Sharps Pixley is subject to an independent annual audit conducted by Azets, a top 10 Accountancy, Taxation and Audit firm in the UK, ensuring full transparency and reassurance.

Sharps Pixley Ltd

54 St James's Street
London SW1A 1JT

[email protected]

+44 (0) 207 871 0532