Self Employed Pension

With a business to run, managing a private pension can be low down your list of priorities. That’s why we’ve made it as easy as possible for you.

With investing, your capital is at risk.

Why you want a Self Employed Pension 

One of the most difficult steps in planning for retirement is getting started. Unlike regular employees who benefit from auto-enrolment, no one is there to do it for you. Starting a habit today means not relying on the state pension of £179.60 per week and, instead, benefiting from:

For sole traders, you could get a 25% boost without making a claim to HMRC - for every £100 you pay in, the government adds £25. If you’re a higher rate or additional rate taxpayer, you can claim back up to 45% through your annual tax return.

For directors of a limited company, your employer contributions may be considered a business expense and could potentially offset the company’s corporation tax. This funding comes from pre-tax income and you may not be liable for employer national insurance.

Tax efficiency - pay no tax on contributions and investments.

With investing, your capital is at risk and you may get less than what you invested. Tax treatment depends on your individual circumstances and may change in the future.

Transfer your pension, free of charge

We’ll handle the whole process for you. Just fill in your details in-app or online. We’ll talk to your existing provider and move your pensions over to your Moneyfarm account. The process typically takes 3–4 weeks and is as paperless as possible, depending on your provider.

What you’ll need

Your current provider’s name

Your pension account number

The pension value

The valuation date

Key Facts for the self employed

Personal contributions

In the 2021/22 tax year, the maximum you can contribute is £40,000 or your annual relevant earnings, whichever is lower. For example, those earning £32,500 a year will only be able to put £32,500 into their pension annually.

Relevant earnings

For the majority of investors, this will include all taxable income under income tax, so wages, bonus, overtime or commission. Dividends, property rental income and investment income do not count.

Employer contributions

While these count towards the annual allowance, they are not restricted by relevant earnings. However, they must satisfy the 'wholly and exclusively' requirement set by HMRC to qualify for tax relief.

Key pension benefits

Cashback offer

Key pension benefits

Free drawdown service

Pay no additional fees for accessing your pension in retirement.

Tax efficient

Withdraw up to 25% of your pension tax-free and minimise tax liabilities.

Inheritance tax benefits

Pass on pension funds to your beneficiaries usually free from inheritance tax.

With investing, your capital is at risk and you may get less than what you invested. Tax treatment depends on your individual circumstances and may change in the future.

Cashback offer

Open a Private Pension in minutes

Discover your investor profile

To get to know you and your goals, we’ll ask you how you feel about risk and what you want to achieve.

Open your recommended portfolio

We’ll recommend a globally diversified portfolio that best fits your needs and goals.

Invest when you’re ready

Transfer your existing pension or fund your portfolio directly by Direct Debit.

Get startedSign up

Capital at risk.

One low, simple fee.

As your money grows we’ll lower the percentage of your fees. 

Actively managed

Below 100k

Above 100k

Why choose Moneyfarm?

We’ve been growing our 80,000+ investors’ portfolios for almost 10 years.

You get a choice of 7 risk levels to choose the best option for your account.

You’ll have a dedicated consultant to answer any questions you have about your portfolio.

We have a fantastic track record - see our performance.

All our portfolios can be made socially responsible with our ESG offering, backed by MSCI data.

Frequently asked questions about pensions

I’m self-employed, can I use the Moneyfarm pension?
Can my employer make contributions to my Moneyfarm pension?
What is the annual pension allowance?
How much should I contribute to my pension?
How do pensions work?
What is a pension?
Can I transfer a pension?
Is there a minimum transfer value?
How do I transfer a pension?
Can I transfer a pension if I’ve started to take benefits?
What type of pensions can I transfer?
How long does it take to transfer a pension?
What happens to a pension when you die?
What annuity could I get with my pension when I retire?
How much tax will I pay on my pension?
What is the lifetime pension allowance?