Pension Gold explained

Physical gold bullion can be held within certain Self-Invested Personal Pensions (SIPPs) and Small Self-Administered Schemes (SSASs), providing investors with another way to diversify the assets held within a pension.

Not every form of gold qualifies. Pension Gold generally involves qualifying investment-grade gold bullion held through the pension arrangement in secure storage, rather than gold coins or bars purchased and held personally by the investor.

Physical Gold works with UK SIPP and SSAS providers to facilitate the purchase and secure storage of qualifying physical gold bullion.

For full information about eligibility, storage, pension tax relief and how the process works, see our Pension Gold guide.

What this guide covers

• how physical gold can be held within certain pension arrangements;
• the difference between Pension Gold and personally owned gold;
• how qualifying pension gold is stored; and
• where to find current information about SIPP and SSAS gold.

Not every gold investment qualifies for inclusion within these pension arrangements.

Qualifying pension gold must meet the applicable requirements for investment-grade gold bullion. Physical Gold supplies 999.9 fine investment gold bars for pension arrangements where accepted by the relevant SIPP or SSAS provider.

The gold is purchased through the pension and held in secure specialist storage rather than being delivered to the pension holder personally.

Gold coins and physical silver do not qualify for Physical Gold’s SIPP Pension Gold arrangements.

For more detailed information, including current storage arrangements and pension considerations, visit our Pension Gold page.

HMRC’s relevant definition specifies investment-grade gold of at least 995 thousandths purity, in bar or wafer form and of a weight accepted by the bullion markets.

Pension Gold does not receive a special tax relief simply because the underlying investment is gold.

Instead, eligible contributions to a registered pension can qualify for pension tax relief under the normal pension rules, subject to the individual’s circumstances and applicable limits.

For the 2026/27 tax year, the standard pension annual allowance is £60,000, although a lower allowance can apply in certain circumstances. Separate limits apply to the amount of an individual’s contributions that can receive tax relief.

For full details of how this relates to physical gold held within a SIPP or SSAS, see our Pension Gold guide.