Bank Interest for SIPPs and SSASs
We may receive variable interest from our principal banking partner – an annual estimate is shown on your latest personal illustration. The amount of interest we share with you will be determined by the current rate of interest received from our principal banking partner. When the rate we receive from our principal banking partner is 1.50% or above, we will share 1/3rd of the whole amount with you, rounded to the nearest 0.05%. and nothing if the rate is below this. We will update and disclose this figure each time our principal banking partner updates the interest rate they give us.
Current gross interest rate earned since 1 November 2023 is 3.20%
The effective interest rate we will share with you from 1 November 2023 will be 1.10%
The following table shows the total interest rate earned by us and the interest shared with you:
| Beginning | % Interest earned | % Interest shared |
| 1 January 2022 | 0.25% | 0.00% |
| 1 April 2022 | 0.35% | 0.00% |
| 1 May 2022 | 0.45% | 0.00% |
| 1 June 2022 | 0.65% | 0.00% |
| 1 August 2022 | 0.85 | 0.00% |
| 1 October 2022 | 1.20% | 0.00% |
| 1 November 2022 | 1.45% | 0.00% |
| 1 January 2023 | 1.80% | 0.60% |
| 1 February 2023 | 2.00% | 0.65% |
| 1 March 2023 | 2.25% | 0.75% |
| 1 May 2023 | 2.40% | 0.80% |
| 1 June 2023 | 2.55% | 0.85% |
| 1 August 2023 | 2.80% | 0.95% |
| 1 September 2023 | 2.90% | 1.00% |
| 1 November 2023 | 3.20% | 1.10% |