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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