An uninvested cash balance exists within your SIPP to facilitate the smooth running of your account, held within a pooled bank account. This account is used for various purposes including receiving your incoming contributions, facilitating your outgoing withdrawals and covering any applicable charges. While this cash isn't actively growing through investments, you can still earn interest on it.
The table below displays the current interest rates offered on uninvested cash held within your SIPP bank account.
| SIPP pooled bank account | Interest rate applied |
|---|---|
| Barclays | 1.07% |
| Metro | 0.55% |
| NatWest | 0.72% |
Rates correct at 01/11/2024
If you are unsure which bank account your cash is in, please contact us.
Important information
These rates are subject to change and IFGL Pensions does not guarantee any specific rate. Any changes to this interest rate will be published at least 30 days in advance. Interest will be paid gross, calculated monthly and credited quarterly.
If you have any questions regarding interest earned on uninvested cash within your SIPP, please email us at pensions@ifglpensions.com.
The information above is not financial advice. Please talk to a financial adviser before making any investment decisions.