I am retired with a DB pension and OAP pension and pay some higher rate tax. Can I invest in a SIPP and get tax relief?

Question

Boring Money · Accepted Answer

Hi Louis,

Yes, if you're under the age of 75 this is possible, but with consideration of the Money Purchase Annual Allowance (which should not be too much of an issue if you've never had a DC pension) and the lower of £40,000 annual allowance or your net relevant earnings.

If this is not the case, then if you're purely after income tax relief and have a suitable capacity for loss, there are other options such as the much riskier Venture Capital Trusts (VCT's) or Enterprise Investment Schemes (EIS) as they invest in much newer companies. 

Best regards