The first step in starting your Harsant SIPP is building up a fund of savings, which you can then invest. Initially, all your funds are held in a designated, interest paying, bank account. There are no charges on day-to-day transactions and interest is credited tax free.

You and Harsant Pensioneer Trustees Ltd are the account holders and signatories, giving you complete control over your savings. This means that no transaction will occur without your prior knowledge and approval. Payments into your SIPP can be varied, stopped and started with no penalties so you can adjust your savings plan to suit your career and lifestyle as your individual circumstances change over the years. As well as personal contributions your employer can also pay into your SIPP.

Plus, if you already have previous personal or company pension schemes you can transfer funds from these other tax approved pensions into your SIPP. This gives you the ability to collect all you pension funds in one place, or if you would prefer you can continue with a company pension and contribute to your Harsant SIPP as well - it's entirely up to you.

And don't forget about the significant tax relief. Not only is the interest on your saving tax free, but if you pay tax on your earnings, 20% tax relief is given on all your personal pension contributions and this extra money is added to your pension fund. For those paying the higher rate of tax and with an income of less than £150,000 gross per annum, you can reclaim a further 20% tax relief from the Government, which is paid to you personally. So, when should you start saving? The sooner the better. You may think that pensions are for old people - something to worry about when you near retirement - but the truth is, the sooner you start saving the sooner you money will be earning you interest.