SIPP contributions soar after Trump's tariffs

SIPP contributions have soared since President Trump’s tariff announcement, according to Hargreaves Lansdown figures. The firm said 4 April was the biggest day ever for contributions to the HL SIPP, almost 2.9% higher than the previous record. Hargreaves said three of the top 10 biggest days for SIPP contributions occurred in 2025, with two of them occurring on 4 and 7 April, after Trump’s tariff announcement. Helen Morrissey, head of retirement analysis, Hargreaves Lansdown said the figures showed that SIPP investors are taking a long-term view without being swayed by current market turmoil. She said SIPP investors are also taking action to build their retirement resilience in the most efficient way possible as the tax take continues to rise. Ms Morrissey said: “April is a busy time for pensions as people look to make the most of their allowances before tax year end, but three of the top ten days on record occurred in 2025 and two of them came after President Trump’s market-shaking tariff announcements.” She said that market volatility is always worrying but it’s important that people take a long-term view of their pension. She said: “It’s good to see investors keeping a calm head and carrying on. At a time when taxes are rising, and thresholds are frozen people are opting to make the most of their money by contributing to a SIPP with tax relief available at your marginal rate.” She warned that taking knee-jerk reactions, such as stopping contributions, or changing investment strategy can mean crystallising a loss and it makes it harder for a pension to recover when markets do settle down.

SIPP contributions soar after Trump's tariffs

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