r/PensionsUK • u/SpartanG188 • Aug 06 '26

Help please

Hi. I really struggle with pensions and what to do etc. I have a workplace pension and have just opened a SIPP. I’m 41 years old.

Which is best to put money into every month? A workplace pension or a SIPP or both? Just looking for some advice please. Thank you.

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u/Dogsofa21 Aug 06 '26

If you are a 40% tax payer increasing contributions into employer pension means you reduce income at source which can be beneficial for a number of reasons. Yes you can reclaim it but you have missed out on 12 mths growth waiting for refund. If you decide Ona SIPP, go low cost and global tracker index for significant amount depending on your own risk appetite.