I guess the pension income can not fund another pension(!?)...but can I use the other income streams to invest in a SIPP?

04 February 2022

Question by Gary

Regarding SIPPs. What funds can be used to fund one? I’m 61.

My income streams are:
- workplace final salary pension
- rental income from a let property
- dividend from my own company (not currently trading).


I guess the pension income can not fund another pension(!?)...but can I use the other income streams to invest in a SIPP?


Answered by Tracey Che

Hi Gary,

You can contribute to pensions if you have relevant UK earnings - this means it must be earned income rather than other forms of income such as the rental, investment or pension income you have mentioned.

Hope this helps!

Tracey

Answered by

Tracey Che

Financial Planner

As a Financial Planner at Moore Kingston Smith, I provide holistic financial planning to high-net-worth individuals.