Pensions need clean rules and tidy records. If you want to buy gold inside a wrapper, focus on provider permission, eligible bars, and custody your trustee can audit. We map the SIPP versus SSAS choices and show how orders settle inside the scheme.
Can I buy gold in a pension in the UK?
Yes, many UK pension providers allow bullion within SIPP (Self-Invested Personal Pension) and SSAS (Small Self-Administered Scheme) wrappers, subject to their own rules and HMRC eligibility. Provider policies vary, so always confirm in writing before funding or placing an order. See our Pensions page for details.
What should I ask my provider before I buy gold in a pension?
Ask whether they permit investment gold bars in a SIPP or SSAS, which custodians they approve, and which bar formats they accept.
What gold is eligible in a SIPP or SSAS?
Most providers accept investment gold bars that meet HMRC standards: fine gold of 995+ purity in recognised weights from an accepted refiner. Coins are often restricted. Many providers restrict coins, and some don’t allow them at all. Where coins are permitted, they must meet investment gold criteria and the specific provider policy.
What gold is not eligible in a SIPP or SSAS?
Jewellery and collectables do not qualify, and pensions do not allow personal possession. Bullion for a pension must sit with an approved custodian, not at home.
SIPP vs SSAS: what’s the difference?
SIPP (Self-Invested Personal Pension)
For: individuals
Control: provider-led with approved asset lists
Eligible bullion: bars that meet HMRC criteria, subject to the provider’s list
Custody: held with an approved custodian
Typical use cases: personal pension diversification
SSAS (Small Self-Administered Scheme)
For: company directors and scheme trustees
Control: trustee-led with more scheme-level control
Eligible bullion: bars that meet HMRC criteria, set by trustees and provider
Custody: held with an approved custodian
Typical use cases: director pensions and company contribution planning
How to decide
Choose a SIPP if you want a straightforward personal route and your provider supports investment gold. Pick a SSAS if you run a business, act as a trustee and want greater control over contributions and scheme assets. Advisers and company accountants can use this overview to pre‑check provider rules before recommending a route. If you plan to buy gold through your pension, confirm bar eligibility and custody with provider approval before you proceed. Send your provider’s bullion policy to our team for a quick compatibility check.
How does pricing work when you buy gold in a SIPP or SSAS?
Providers quote in GBP. Your all‑in price is spot converted to GBP per gram plus a fabrication/dealer premium. Inside a pension, that total appears on your contract note and rolls into the scheme valuation. Investment gold is VAT‑exempt at purchase in the UK.
Why does pricing matter in a pension?
You plan entries and rebalancing in GBP, so FX and spreads affect your average cost. Many investors spread purchases over time to smooth volatility, and choosing approved bars helps keep pricing consistent and exit straightforward.
What custody does HMRC require for pension gold?
Pensions do not allow home storage of bullion. Your scheme must hold bullion with an approved custodian on an allocated and segregated basis in the name of the scheme. The custodian allocates specific bars to your scheme and keeps matching records and statements.
Why does allocated custody help pension gold?
Allocated and segregated custody gives you clear legal title and audit‑ready paperwork. Sell‑back from custody avoids check‑in delays because the scheme already holds verified bars.
How does Baird handle pension gold?
Baird provides LBMA‑recognised manufacture in London with pension‑suitable custody (allocated, segregated) and audit‑ready records for trustees. We align settlement and custody movements with provider requirements and keep recorded packing with insured, tracked logistics.
What are the costs and fees when I buy gold in a pension? (UK)
When you buy gold through a pension, you usually see four main cost lines: metal and premium (live metal plus fabrication, distribution and dealer service), custody fees for ongoing vault storage, SIPP or SSAS administration charged by your provider or trustee, and settlement costs where bank transfer is common for larger orders because it clears quickly and avoids card limits.
Understanding each line keeps your average cost realistic and reduces friction when you rebalance or sell. Seeing each cost upfront helps you plan contributions and avoid surprises at exit.
What risks and constraints should I consider before I buy gold in a pension?
Market risk: gold can rise and fall, so many pension investors stage entries to reduce timing risk.
Provider policy risk: not every provider permits bullion and policies differ on formats, custody and dealing, so confirm in writing.
Liquidity profile: larger bars often give keener per‑gram pricing, while smaller bars help if you plan staged exits.
Operational rules: no personal possession, and transfers and benefit crystallisation follow pension rules.
No income: bullion pays no interest or dividends, so it serves as diversification and a potential hedge.
How do I place a pension gold order with Baird?
Get provider approval in writing. Confirm the asset type (investment gold bars) and name Baird as dealer/custodian where required.
Name Baird on the scheme and complete KYC. Open a Baird account and align with your provider’s checks.
Fund and allocate approved bars to the scheme. On cleared funds we allocate approved bars on an allocated, segregated basis and issue records to the scheme.
Receive scheme statements and bar lists. Keep these with your pension records for reviews and audits.
Review and sell back when required. Sell‑back from custody avoids check‑in delays because bars are already verified.
Should I use a SIPP or an SSAS for gold?
Choose based on your situation:
Individual saver: A SIPP with approved bars and allocated custody keeps setup simple. Spreading purchases over time can help manage volatility.
Company director or trustee: An SSAS fits if you want trustee control and to align contributions with company planning.
Looking for tax efficiency across accounts: Inside a pension, wrapper rules apply. For personal holdings outside a pension, UK legal‑tender coins can offer CGT advantages; see our coin guides for non‑pension holdings.
Why choose Baird for SIPP/SSAS gold?
Baird’s LBMA membership and in‑house refining in London provide a clear chain of quality from manufacture to custody. Our allocated, segregated vault storage and matching records suit SIPP and SSAS needs, and an established sell‑back route from custody with professional support helps when you need to rebalance.
Set up your SIPP/SSAS gold route with Baird
Put gold in your pension the right way and buy gold through a compliant SIPP or SSAS route. Ask your provider for written approval, name Baird on the scheme, and allocate approved bars to custody with statements issued to trustees. Email your provider policy and we’ll confirm the next step.
