What would you like to do?

Explore how I can invest for retirement

Our Modular iPlan brings pensions, ISAs and other investments together in one place.

Explore how I can invest for retirement

Get a personalised illustration to see what you could get by investing with James Hay.

How can I withdraw from my pension?

If you are 55 or over, you can start accessing your pensions now – and we are here to help.

Register for an online account

Set up your James Hay Online Account now – and get ready to invest.

The pension plan with more choice, more freedom

See key information about this product

Retirement wealth-planning made easy

Our Modular iSIPP is a self-invested personal pension A personal pension where the investor has extensive freedom to choose what to invest in, rather than being restricted to the pension provider’s own choice of funds., which means you have a lot of freedom as to what you invest in. It’s designed to work with you before, at and after retirement. So you can use it to build up your pension pot – then easily move to taking retirement income and lump sums as and when required.

Like all pension products, it is tax-efficient. Where applicable, we will reclaim basic-rate tax relief The income tax that can be reclaimed on pension contributions. On an occupational pension, tax relief is given by deducting pension contributions out of pre-tax salary. On a personal pension, basic-rate tax relief is usually added onto pension contributions, while higher-rate and additional-rate taxpayers reclaim their additional relief as a reduction on their annual tax bill. Non-taxpayers can get tax relief added onto their pension contributions up to a certain amount. Tax relief is given at an individual’s marginal rate of income tax. Relief is available on contributions of up to 100% of a person’s earnings or the annual allowance, whichever is lower. on the money you personally pay into your SIPP. For someone whose income falls into the next bands of income tax after the basic rate; higher rate tax payers Someone whose income falls into the next band of income tax after the basic rate. The higher-rate tax rate is currently 40%. This can be reclaimed on pension contributions as tax relief. this is currently 40%, additional tax relief may be reclaimed on pension contributions via a claim through their tax return. Plus your investments get to grow largely free of tax. As a pension, it is subject to rules as to when you can access your money so it’s only suitable if you can wait until at least age 55 to start taking money out.

Modular iPlan options

SIPP (must be included)ISA (optional)GIA (optional)
Contribute up to 100% of annual taxable income, normally subject to £40,000 limit* Invest up to £20,000 a year (2018/19 limit) No investment limit
Tax relief given on contributions No tax relief on what you invest No tax relief on what you invest
Fund grows largely tax-free Fund grows largely tax-free Fund growth is taxable
Can usually only be accessed from age 55 Access at any time Access at any time
Take 25% of fund tax-free Take 100% of fund tax-free Income and capital gains subject to tax
Optional investment modules
- Whole of MarketA module offered by James Hay that allows investors to include funds and investment managers not offered within the James Hay Investment Centre.
- Commercial Property
Optional investment modules
- Whole of Market
Optional investment modules
- Whole of Market

*These are the limits for contributions receiving tax relief; non-taxpayers can contribute up to £3,600; unused contribution allowances can be carried forward to the next tax year.

Investment freedom

A great feature of the Modular iSIPP is its investment choice. The James Hay Investment Centre gives you access to over 3,700 investment funds from both leading and specialist fund managers.

In addition, you can add further investment modules that give you extensive choice to diversify your portfolio and pursue a specific investment strategy. Investments can carry high levels of risk. We strongly encourage you to seek regulated financial advice to ensure any investment is suitable for you.


You pay for the investment modules as you use them. Plus if a module is no longer used, you will no longer be charged – a great cost-saving feature.

Pension freedom flexibility

When you need to start taking out lump sums or income, the Modular iSIPP offers plenty of flexibility and control.

In line with the pension freedoms Refers to the rules introduced in April 2015 that allow greater choice in how people take money out of defined contribution pensions, including personal pensions. These freedoms include easier access from age 55, taking the whole fund as cash (75% of which is taxable) and allowing unused pension funds to be passed on to future generations free of inheritance tax. However, care has to be taken to ensure that pension freedom does not result in an insufficient pension fund to live on in retirement. rules, you can take out lump sums and income at any time from age 55 from what is known as flexi-access drawdown A pension income drawdown arrangement where there are no limits on how much can be taken out of a pension fund or when. All income drawdown arrangements set up from 6 April 2015 onwards are offered on a flexi-access basis. Once a pension fund is moved into flexi-access drawdown, an investor can only make new pension contributions (including tax relief) of up to £10,000 a year. See also Capped drawdown. . You can choose what level of income to take, adjust this at any time online with James Hay and track the value of your pension fund. So you always know what you’ve taken from your pension and the value of what’s left.

(Please note, James Hay doesn’t offer annuities An insurance contract that, in return for a one-off lump sum payment, promises to pay a guaranteed income either indefinitely or for a fixed period, depending on the type of product bought. Investors may choose to use some or all of their pension fund to buy an annuity but are under no obligation to do so. , but you are free to use some or all of your SIPP to purchase an annuity contract from another provider.)

Competitive cost

The annual administrative charge for the SIPP is £179. However, this is waived if you hold £200,000 or more in the Investment Centre, cash deposit accounts or product bank accounts. This applies if you have £200,000 or more in these assets across your whole Modular iPlan, not just the SIPP.

Plus, as we have said, charges for additional investment modules only apply as and when they are used. So you only ever pay for what you use. For more on charges, see here.


Who can open a Modular iSIPP?

Please remember

The Modular iSIPP is not suitable for all investors. We strongly encourage you to get financial advice before proceeding. James Hay Partnership is not authorised to give financial advice. If you do not already have a financial adviser, you can find an authorised adviser in your local area at www.unbiased.co.uk or call 0800 023 6868. You can also get useful and impartial information about pensions, savings and investments from the Money Advice Service (www.moneyadviceservice.org.uk). If you are planning to take money out of your pension in the near future, you are entitled to free, impartial guidance from Pension Wise. Visit www.pensionwise.gov.uk or call either 0800 280 8880 or 0300 330 1003 (from outside the UK +44 20 3733 3495), if you wish to use this service.

Tax Risk Warning

Current pensions and tax legislation and HMRC practice could change in the future. This may affect the value of your investments and pension benefits you receive from the Modular iSIPP. In addition, your individual circumstances will impact the tax treatment of each of the products in Modular iPlan and may also be subject to change in the future.

Capital At Risk Warning

The value of your Modular iSIPP will be determined by the valuation of all the investments held within it. Depending on the type of investments that you choose to hold within your Modular iSIPP, some of these may not return the amount you initially invested especially where their value can go down as well as up. This could also impact the amount of money available to take before or during retirement from your Modular iSIPP.


There are risks to investing. To read more about them, click here.