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Cover for A tax-free wrapper in which you hold a wide range of permitted investments you and your loved ones Self-Invested Personal Pensions (also known as ‘SIPPs’) are being used by a rising number of private investors keen to take control of their retirement planning. First introduced in 1989, SIPPs have evolved into the favoured… Continue reading Time to take control of your retirement planning?

Saving for a retirement that puts you in control of your financial future Just like any other kind of pension, Self-Invested Personal Pensions are designed to help you save for retirement and take an income when you reach it. Any individual who is resident in the UK under the age of 75 may make contributions… Continue reading Who can have a Self-Invested Personal Pension?

One of the most tax-efficient ways of saving for retirement Self-Invested Personal Pensions are one of the most tax-efficient ways of saving for retirement, and you can invest up to the annual allowance for tax relievable pension contributions (currently £40,000). As always, please bear in mind that tax relief will depend on your individual circumstances,… Continue reading Self-Invested Personal Pension tax relief

Flexibility over where your money is invested to fit in with your overall investment strategy Self-Invested Personal Pensions are likely to be most suited to experienced investors who are comfortable choosing and managing investments themselves. You need to have the necessary skills to invest your own pension fund, and you must remember that the value… Continue reading Making Self-Invested Personal Pension investments

Limiting the amount of contributions you can make each year which attract tax relief Every year, you receive an allowance for making contributions into a Self-Invested Personal Pension. The Government sets this limit because your pension contributions are topped up with tax relief. You can either pay lump sums into your SIPP, or you can… Continue reading Self-Invested Personal Pension contributions

Transferring other pensions into a Self-Invested Personal Pension If you have a UK registered pension scheme with another company, you can transfer its value into your pension fund. However, by transferring benefits from another pension provider into your Self-Invested Personal Pension, you may give up the right to guarantees over the kind of benefits, the… Continue reading Giving you more control over your retirement investments

Helping you make the most of the new pension freedoms rules Drawdown allows you to take income directly from your pension fund without the need to purchase a lifetime annuity. In turn, this allows your pension fund to remain invested in the assets of your choice whilst taking an income. Income drawdown is a way… Continue reading Drawdown

Guaranteeing you a regular retirement income for life An annuity allows you to use your pension fund to buy an income from the provider of your choice. The annuity guarantees regular payments until you die. Normally, once purchased, it cannot be altered. There are different types of annuity available in the market, and you should… Continue reading Lifetime annuity

One-time purchase that affects your whole retirement Due to the current economic climate, it has never been more important to make the correct decisions when deciding how to invest a retirement fund. If you decide an annuity is right for you, it’s important to shop around. It’s a one-time purchase that affects your whole retirement, and… Continue reading Shopping around for an annuity

Declaring who you want the payments to go to If you die, your Self-Invested Personal Pension benefits will be paid to your beneficiaries – either as a lump sum or an ongoing pension. You’ll need to complete a nomination form declaring who you want the payments to go to. The tax treatment of any death… Continue reading Self-Invested Personal Pension benefits on death