A Self-Invested Personal Pension (SIPP) is a type of investment product that helps you build savings for your retirement. A SIPP gives you much more flexibility with the instruments/securities you can invest in when compared to typical personal pensions.
As with all pension products, your money remains locked up until the minimum retirement age (currently 55, increasing to 57 in 2028). When you decide to take pension benefits, you are able to withdraw up to 25% tax-free with the remainder used to provide an income in retirement.
Please note that Freetrade doesn’t yet support the ability to drawdown. Whilst this is something we will look to support in the future, we don’t yet have a timeframe for it.
You can read more about the Freetrade SIPP here.