SIPP - Self Invested Personal Pensions

A SIPP (Self Invested Personal Pension) is a personal pension which allows the member of the SIPP a much broader range of asset choices, compared to a traditional Personal Pension. Some examples of the exciting opportunities available include commercial property, land, overseas property funds, residential property funds, quoted and unquoted shares, trusts, unit trusts and OEICs.

Expatriate Financial Advice in association with our business partners and leading ‘specialist’ SIPP administrators,  provide the SIPP member the opportunity to invest their funds (including Protected Rights) in any HMRC permitted investments which do not attract a tax charge.

The member also has the option of using their fund (including Protected Rights) in borrowing calculations.
Please note that if you are investing Protected Rights in a Private Pension the Protected Rights fund is 'ring fenced', this way we are always able to identify the Protected Rights money.

As well as having excellent investment freedom a SIPP still maintains the significant tax advantages of a pension.
A SIPP also offers much greater flexibility in the way benefits may be taken in retirement. You may retire at any age between 55 and 75 with no penalties. Up to 25% of the value of your SIPP investments can be taken as a tax free cash sum whilst the remainder remains invested.

At retirement, you have a number of choices. You can draw income from your invested fund, known as income drawdown, buy an annuity, or have a combination of phased retirement and income drawdown.

At age 75 you must either buy an annuity, or continue drawing from your invested fund using ASP (Alternatively Secured Pension).

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A SIPP (Self Invested Personal Pension) is designed to provide you with:
  • A means to save for your retirement in a tax-privileged manner
  • The opportunity to invest your funds (including protected rights) in any HMRC permitted investment which does not attract a tax charge
  • The option of using your funds (including protected rights) for borrowing calculations
  • The ability to make your own savings decisions even when you are drawing an income
  • A lump sum and flexible income in retirement
  • A lump sum, a pension, or both for your spouse or civil partner and or dependants should you die before taking the benefits
  • The option to take income from your pension without buying an annuity. Income taken before age 75 is known as unsecured pension and income taken from age 75 is known as alternatively secured pension
  • To give you flexibility over the provisions for your spouse, civil partner and/or dependants upon your death including the availability of a lump sum (taxed if you are drawing an unsecured pension) or to draw taxable income in the event of your death
  • The option of transferring other registered pension schemes into your Private Pension

 

To arrange an initial, no obligation, confidential discussion regarding a SIPP or other pension issues with one of our approved, UK qualified pension specialists, please contact us.

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