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1 Year Pension Deposit (SIPP) 


As part of your existing Self Invested Personal Plan (SIPP), our SIPP fixed term account gives you (or your financial adviser) more control over how you save for the future.

1 Year Pension Deposit (SIPP)


Apply now

Download or request an application form to open your 1 Year Pension Deposit (SIPP).

What is the interest rate?


Gross PA / AER*

Interest is accrued daily and is payable annually and at maturity (the end of your term) into your nominated bank account.

*AER stands for Annual Equivalent Rate. It illustrates what the interest rate would be if interest were paid and added each year. Gross PA means Gross Per Annum, i.e. before tax is deducted (at the legal rate).

Can Close Brothers Savings change the interest rate?

No. Your rate is fixed, so it will stay the same for the entire term of your savings account. It means you'll always know exactly how much interest you'll earn at the end of the term.

What would the estimated balance be after 12 months based on £25,000 deposit? ¹

Initial deposit  Interest earned
after 12 months 
Balance after
12 months
£25,000.00  £237.50  £25,237.50  


Calculate your balance after 12 months

How do I open and manage my account?

It’s easy to apply by email. The application must be sent from an FCA approved SIPP Administrator or Trustee. You can pay money into your account by electronic bank transfer (details are on the application form). To open a Pension Deposit (SIPP) you'll need to deposit a minimum of £25,000. The maximum account balance is £2 million.

Managing your account is easy too. Simply call or write to us and we'll help with any questions or instructions.

Can I withdraw money?

You can't take money out of our Pension Deposit (SIPP) account, so you need to be sure you're happy to leave your money in the account until the end of the term (maturity).

At that time, you can choose to reinvest your funds with us or have the money paid into your nominated bank account.

What happens at maturity?

We'll send you a letter 14 days before the end of the fixed term, letting you know what your options are. You can instruct us to reinvest your money into another account, up to at least one day before the maturity date, or do nothing and we'll pay your funds into your nominated bank account.

Additional information


Tax information. We do not currently deduct tax from any interest paid to you. Tax benefits depend on individual circumstances and could change in the future.


¹ Assumptions: (1) the initial deposit shown is deposited at the time the account is opened.

Can we help?

If you'd prefer to speak to someone directly or have any questions, please get in touch.

Call us on

020 3857 3050

Lines are open

9am - 5pm, Monday to Friday (excluding UK bank holidays)

Alternatively email us at:

Financial Services Compensation Scheme logo

Financial Services Compensation Scheme (FSCS)

Your eligible deposits with Close Brothers Savings are protected up to a total of £85,000 by the UK's Financial Services Compensation Scheme. Any deposits you hold above this limit are unlikely to be covered. For further information visit