Self Invested Personal Pensions (SIPPS) are a type of personal pension scheme offering individuals control over how their pension investments are managed. The SIPP itself is a pension ‘wrapper’, holding investments until retirement when the investor is looking to receive income from those investments. SIPPs allow investment in a range of assets including commercial property, rather than just investment funds and shares. As with any pension fund, the investor cannot take money from the fund until the age of 55. With the recent Budget announcement regarding annuities, all pensions now offer more flexibility in determining what income you wish to receive from your pension plan and when. This gives more options for the long term investment of pension funds and greater flexibility for investment managers to select appropriate investments for the longer term all within a tax efficient “wrapper”.
Do you have a self invested personal pension? Maybe you are thinking of setting up your owwn pension scheme but require some advice, if so contact our investment managers who can provide you with all the advice you will need about SIPPs. We have two office locations providing experts in Maidstone and Tenterden simply call 01622 691600 or take a look at the contact us page for further contact information.