J.P. Morgan SIPP at a glance

How much?
Fees and charges Free set up and transfers-in
Annual account fee: 0% – 0.5% 
No initial charge for buying and selling J.P. Morgan Managed Funds. £10 brokerage fee per transaction may apply
Free move into income drawdown
Minimum lump sum £400 (£500 after tax relief)
Minimum regular saving £40 (£50 after tax relief)
Minimum top up £80 (£100 after tax relief)
Minimum transfer-in from previous pensions £5,000
Cash interest We calculate the interest on cash held in your account daily, and pay it monthly. At December 2014, the rate of interest is 0.35% gross p.a.
The investments
Income and/or growth? Designed for long-term growth
Investment term/horizon Long – no withdrawals until you're 55
Investment risk Depends on the underlying investments
Investment choice Over 30 J.P. Morgan OEICs 
Over 20 J.P. Morgan Investment Trusts 
Dates, tax and restrictions
Tax year 6 April – 5 April
Pension Input Period (PIP) This 12 month period is used when working out contributions for tax relief limits. It's explained fully in the terms and conditions.
Annual contribution allowance for 2014/15 tax year £40,000 for the Pension Input Period ending in 2014/15 tax year. Any additional contributions won't qualify for tax relief.
Tax relievable contribution limit £40,000 if you want to receive tax relief up to a maximum of 100% of your relevant UK earnings.
You can contribute unused amounts from the previous three contribution periods – up to a maximum of £40,000 for each period.
Tax efficiency Basic rate tax payers: for every 80p paid in, the government adds another 20p. 
Higher rate tax payers: claim additional tax relief through your tax return, depending  on your overall earnings. 
Capital gains and income tax: SIPP investments grow free from these taxes.
Tax benefits depend on your individual circumstances and may change.
Minimum age 18 years - although you can open a SIPP on behalf of a child
Minimum retirement age 55 years
Residency requirements UK for tax purposes

Is a SIPP right for you?

If you're not sure that a SIPP is the right investment for you, speak to a financial adviser.

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