Pension Savings Statements – Wrap SIPP customers
24 July 2023For customers who are invested in our Wrap SIPP product, regulations require us to inform customers before 6 October 2023 if in the last tax year, we’ve received:
- More than the standard annual allowance, £40,000 in 2022/2023
- Or the money purchase annual allowance, £4,000 in 2022/2023
This applies even if a tax charge will not arise because unused allowances from previous years have been carried forward.
We're not required to inform customers who are subject to tapering and have a personal annual allowance somewhere between £40,000 and £4,000 because of their income level.
These statements will be sent in batches for a period of 4 weeks from Monday 28 August.