Self Invested Personal Pensions “SIPPs”

What are SIPPs?

‘SIPPs’ stands for “Self Invested Personal Pensions”. This is a ‘do-it-yourself’ form of pension that allows you to make your own investments into a personal pension pot.

But you don’t have to be an investment genius to have a SIPP.

They are great for:

  • Pulling several personal pensions together
  • Holding a wider variety of investments than a normal personal pension, including shares and commercial property
  • Giving you day-to-day control over the “big picture” such as moves from shares to cash or vice versa
  • Letting you into “income drawdown” – a way of receiving tax-free income while keeping your pension invested. (Note: Income drawdown needs specialist help).

What you can put into a SIPPs pension?

  • Quoted shares
  • Gilts
  • Unit Trusts
  • Company pensions
  • Personal (private) pensions
  • Tradable bonds
  • …Plus a few more usually less common assets

Additional flexibility

  • Currency diversification away from GBP if relevant
  • Succession planning
  • Advantageous tax structuring
  • Risk v reward considerations
  • Typically lower charges than those associated with QROPS
  • Not limited to UK residents or UK nationals

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