Expert VerifiedWEALTH at work SIPP Review: An Option in 2025?
- Last Updated: 13 Nov 2025
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WEALTH at work is a leading financial wellbeing, retirement and workplace savings specialist which helps employees to improve their financial future.
It does this by providing financial education and guidance in the workplace, as well as offering access to investment advice through my wealth. my wealth and WEALTH at work are trading names of Wealth at Work Limited, part of the Wealth at Work group.
my wealth provides a discretionary portfolio service to help people benefit from tax efficiency, diversification and flexibility for pension savings.
Wealth at Work Limited is the provider of the WEALTH at work SIPP and is also the Scheme Administrator.
Key Takeaways
- Following investment advice, The WEALTH at work SIPP can be recommended by a my wealth Adviser as part of a tailored investment strategy.
- Portfolios created for scheme members are actively managed, aligning investments with the individual’s financial needs, objectives and risk tolerance.
- Contributions to the SIPP currently benefit from tax relief at the individual’s marginal rate, and up to 25% of the pension pot can be withdrawn tax-free from age 55 (57 from 2028).
- Upon retirement, funds can be accessed through flexible income drawdown, tax free lump sum, or annuity purchase, or a combination of these, each with distinct tax implications.
Did you know that, according to a recent Penfold survey, over half (57%) of 55–64 year-olds in the UK are unaware of what their pension funds add up to?1
The fact that you are reading this article and looking into Self-Invested Personal Pensions (SIPPs) suggests that you are motivated to beat these statistics.
In This Article, You Will Discover:
The team at EveryInvestor has put in the hours to provide you with comprehensive insights regarding SIPP providers-; this article will discuss the benefits and drawbacks of the WEALTH at work SIPP and offer tips for evaluating whether this SIPP may suit your needs.
All our content undergoes stringent quality and compliance checks prior to publication so we can be sure of delivering only the most relevant and up-to-date information to our readers.
Read on to find out more about this
What is the WEALTH at work SIPP?
The WEALTH at work SIPP, or Self-Invested Personal Pension, is a wrapper to provide access to the my wealth discretionary portfolio management service within a cost-efficient pension wrapper.
It allows investors to invest in a wide range of options, including cash, bonds, and equities.
Within a WEALTH at work SIPP, my wealth creates a tailored portfolio for the scheme member which is actively managed to ensure the investments remain suitable to the individual’s risk tolerance and financial needs and objectives.
WEALTH at work Overview
WEALTH at work and my wealth are both trading names of Wealth at Work Limited. Whilst WEALTH at work provides financial education and guidance in the workplace, my wealth provides investment advice for individuals, with a particular focus on retirement planning and investment management.
Brief History & Overview
The business was founded in Liverpool in 2004 and today employs about 400 people.2
In 2015, Equistone Partners Europe conducted a £50 million private equity investment .3
After this development, The Farleigh Group was acquired in 2016, which expanded the firm’s reach into the UK’s public sector and saw it managing £1.5 billion in assets.4
By 2021, the company had attracted investment from Aquiline Capital Partners, a firm with a portfolio valued at $6.4 billion.5 Wealth at Work works with over 450 employers, including prominent names like Marks & Spencer, BT, Experian, and the NHS.6
Key Players in the company’s Development
Key Players at the company include CEO David Cassidy and Director Jonathan Watts-Lay.7
More on the WEALTH at work SIPP
The WEALTH at work SIPP is a wrapper to provide tax efficient discretionary portfolio management.
Key Features & Benefits
The WEALTH at work’s SIPP provides a range of features and benefits to meet the diverse needs of investors.
With access to whole-of-the-market investment options, including cash, bonds, and equities, investors can achieve a portfolio aligned with their retirement goals.8 Portfolios are created using two-fold asset allocation, which means that the core asset classes (cash, bonds, and equities) and their subcategories are weighted.
Asset Allocation:
Asset allocation involves assigning different weights to the core asset classes.
Core asset classes include:
- cash
- bonds
- equities
As mentioned above, there are subcategories to consider within these core asset classes.9
Bonds invested in:
- government bonds
- investment-grade corporate bonds
Equities invested in (geographic areas):
- UK
- USA
- Japan
- Emerging markets (like South Africa, Brazil, Mexico, and others)
- Asia Pacific (excluding Japan)
- Europe (excluding the UK)
Tax Benefits
Investing in a SIPP can offer attractive tax benefits.
Contributions to a SIPP are eligible for tax relief, meaning investors effectively receive government rebates to their contributions at their marginal income tax rate.
Our guide on SIPPs and taxes will provide you with more information on the tax implications of these products.
Costs & Charges
The SIPP wrapper has no charges but charges for the discretionary portfolio service generally consist of an Initial Charge and an Annual Management Fee.
The Initial Charge is based on the investment amount:
- 2% plus VAT for the first £100,000
- 1% plus VAT for the next £200,000 (£100,001 – £300,000)
- 0.5% plus VAT for amounts over £300,000
The Annual Management Fee is based on the value of your portfolio and is paid monthly in arrears.
The standard monthly amount is a 12th of the following:
- 1.5% plus VAT for the Discretionary Managed Portfolio Service
- 0.45% plus VAT for the Treasured Stock Service.10
The exact fee will be detailed in the suitability report before investment.
How Will My Investments Be Managed?
To start investing with WEALTH at work’s SIPP product, employees who have attended WEALTH at work’s financial education or guidance programmes, can contact my wealth directly to discuss their financial goals and proceed to receive investment advice.11
Following this, if the Adviser recommends the WEALTH at work SIPP, the prospective client will have to complete the necessary application forms and provide any required documentation.
Once the account is set up, the Adviser will arrange the transfer of existing pension pots and/or set up contributions, benefiting from the tax advantages offered by the SIPP.
The Process
The process involves a number of steps.
These include:
- two initial meetings to discuss your needs with a my wealth Adviser and review their recommendations
- completing an application form
- providing the necessary identification and financial information
- transferring funds into your new SIPP account
Who Is Eligible?
Employees who have attended WEALTH at work’s financial education or guidance programmes can contact my wealth directly to receive investment advice. If the Adviser recommends the WEALTH at work SIPP, you will have to complete the necessary application forms and provide any required documentation.
To open a WEALTH at work SIPP, you need to be a UK resident and over the age of 18.
How Will My Investments Be Managed?
Once you have spoken to a my wealth Adviser, a tax-efficient strategy will be developed which is tailored to your needs.
This strategy will take into account your attitude to investment risk, your capacity for loss, and your prior investment knowledge and experience.
Your portfolio will then be actively managed on a discretionary basis.
In other words
This means that any alterations to a client’s investments are made automatically on their behalf, and all transactions are clearly communicated to them via quarterly investment statements.12
Withdrawing Your SIPP Funds
Withdrawing your SIPP funds usually becomes possible when you turn 55 (although the minimum age will rise to 57 in 2028).
Of course, you do not have to withdraw your pension at this age—you may very well not even be retired by then.
Withdrawal Options
When you do decide to access your WEALTH at work SIPP funds, you have a few options.13
These are:
- Lump Sum: Withdraw up to 25% of the pension pot tax-free as a lump sum. The remaining 75% can be taken as taxable income.
- Income Drawdown: Keep the pension invested while drawing an income from it. This can be done flexibly, allowing you to vary the amount and frequency of withdrawals.
- Annuity Purchase: Use the pension pot to buy an annuity, which provides a guaranteed income for life or a fixed period.
- Combination: Combine a lump sum with regular income drawdown or annuity payments.
Each option has its own tax implications and benefits, so it’s important to consider your needs and speak to an advisor.
Tax Implications
When withdrawing funds from your WEALTH at work SIPP, it’s important to understand the tax implications.
These include:
- Tax-Free Lump Sum: You can usually withdraw up to 25% of your SIPP fund as a tax-free lump sum (maximum amount of £268,275). This can be taken all at once or in smaller amounts.
- Taxable Withdrawals: The remaining 75% of your SIPP fund is subject to income tax. Any amount you withdraw will be added to your total income for the year and taxed at your marginal rate.
- Higher Tax Brackets: Withdrawals might push you into a higher tax bracket, resulting in a higher tax rate/or additional rate tax on the withdrawn amount.
- No National Insurance: Withdrawals from your SIPP are not subject to National Insurance contributions.
- Tax on Annuity Income: If you buy an annuity, tax will be deducted from your regular income payments by the annuity provider.
Navigating the digital Platform
The recently upgraded digital platform offers a user-friendly interface
User Interface & Experience
The online platform equips investors with tools like retirement planning aids, educational content, and market insights.14
The user-friendly platform lets investors track their portfolios, and access account details online.
Tools & Resources Available
The mobile app my wealth invest, extends the convenience of tracking your investments on the go.15
The my wealth invest app includes the following features:
- An overview of your current investments across asset classes.
- Access to detailed information and transaction history.
- The latest news and market updates.16
Mobile App Reviews
The mobile app reviews are positive, with a rating of 4.4 out of 5 on the App Store (although this is currently based on only sixteen reviews).17
Customer Service & Support: Contact Options
Customer service and support play a vital role in ensuring a positive experience for clients.
my wealth can be contacted in a number of ways.
These are:
- filling in their online form.18
- phoning them on 0800 028 3200.
- visiting them at 5 St Paul’s Square, Liverpool, L3 9SJ.
These channels provide options for seeking assistance or clarifying any queries related to their SIPP product.
Regulatory Compliance & Protection
Regulatory compliance and protection are vital considerations when it comes to financial investments.
Regulation
Compliance with regulations ensures that a company adheres to industry standards and safeguards the interests of its clients.
Wealth at Work Limited’s regulatory details are:
Financial Services Compensation Scheme (FSCS) Protection
The WEALTH at work SIPP benefits from the protection provided by the Financial Services Compensation Scheme (FSCS).
This protection covers eligible investments up to £85,000, providing clients with an additional layer of security.21
Data Security Measures
Wealth at Work Limited places a strong emphasis on data security, employing robust measures to protect client information and ensure data privacy.22
The Financial Conduct Authority regulates the company and requires it to meet strict data security standards.
Wealth at Work Limited uses industry-standard encryption and security protocols to protect data and has a dedicated security team that monitors and tests the security systems.
Common Questions About the WEALTH at work SIPP
You may consider the WEALTH at work SIPP for the firm’s advisory services..
Investment Advice:
my wealth provides personalised investment advice, ensuring that your retirement planning aligns with your financial goals and risk tolerance.
The WEALTH at work SIPP offers appropriate flexibility for discretionary managed investments.
They create an investment strategy for you which includes:
Cash:
Bonds:
Including government bonds and investment-grade corporate bonds.
Equities and bond funds:
UK
USA
Yes, the WEALTH at work SIPP can accommodate pension transfers.
Individuals can transfer their existing pension pots, including old workplace pensions, into the WEALTH at work SIPP.
This allows for the consolidation of multiple pensions into one manageable account, providing easier control and flexibility over retirement savings.
Investing in the WEALTH at work SIPP (Self-Invested Personal Pension) comes with several tax implications:
Tax Relief on Contributions: Contributions to a SIPP receive full tax relief. For example, if you contribute £80, HMRC will add £20, making the total contribution £100. Higher and additional rate taxpayers can claim further tax relief through their annual self-assessment tax return.
Tax-Free Growth: The funds within a SIPP grow free from tax, which can significantly enhance the value of your savings over time.
Tax-Free Lump Sum: You can withdraw up to 25% of your SIPP fund as a tax-free lump sum when you start drawing your retirement benefits.
Taxable Income: The remaining 75% of your SIPP fund is subject to income tax when withdrawn. The amount you withdraw will be added to your total income for the year and taxed at your marginal rate.
No National Insurance: Withdrawals from your SIPP are not subject to National Insurance contributions.
Lifetime Allowance: As of 6 April 2025, the lifetime allowance no longer exists. Instead, a Lump Sum Allowance (the maximum amount of benefits you can take from all your pension schemes as tax-free cash) and a Lump Sum and Death Benefit Allowance (the maximum benefits you or your beneficiaries can take from all your pension schemes as a tax-free lump sum) have come into effect. The former is usually £268,275, and the latter is usually £1,073,100.
These tax implications make SIPPs a tax-efficient way to save for retirement, but it’s important to plan your withdrawals carefully to manage your tax liabilities. Consulting with a financial advisor can help you make the most of these benefits.
You can view your WEALTH at work SIPP online through their user-friendly digital platform, which provides access to investment information and portfolio management tools.
You can access your WEALTH at work SIPP funds before retirement if you are at least 55 (57 from April 2028), or you are suffering from ill-health.
The outlook for the WEALTH at work SIPP is positive, with the company likely to continue adapting and innovating to meet the evolving needs of investors in the SIPP market.
Final Thoughts on the WEALTH at work SIPP
Our review highlights the WEALTH at work SIPP as a competitive choice in the SIPP market, especially for those who would like a managed product.
Disclaimer:
All details in this article were accurate as of July 2025. Rates, lending criteria, and eligibility rules may change over time. Please consult a financial adviser before making decisions based on this content.
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