In terms of tax benefits and contribution limits, a Self-Invested Personal Pension (or SIPP) works in very much the same way as a personal pension or a stakeholder pension.
A SIPP is considered to be an option for people who want more personal control over their pension plan and how it is invested. It allows the client, with the help of an adviser, to build a bespoke pension investment strategy in an open architecture environment.
What are the key benefits of a SIPP?
- UK Registered Pension Scheme
- Member Directed
- Flexible Investment Options
- Flexible Retirement Options
One of the key advantages is the wide range of investment choice that they can provide. Traditionally, personal pensions have been provided by insurance companies and have been limited in terms of the range of funds that they can offer to a client. A SIPP can pick from many different investments and types of investment (such as Equities, Bonds and Funds) across the whole market.
Another of the key advantages of a SIPP is the flexibility that it offers when it comes to taking retirement benefits. A SIPP gives you the option to go into income draw down rather than having to purchase an annuity.
Contact Us For Advice
If you wish to speak to one of our advisers, you are guaranteed to receive impartial advice with no obligation on your part. Confidentiality is always assured. Our team will also give you the best advice for your unique situation and not just tell you about the benefits. They will also talk about any potential pitfalls that you should be aware of regarding the use of a SIPP.
As well advising on a SIPP, our advising team are equipped to help you review all areas of your financial plans. We can help you achieve your own long term goals. This makes us the perfect choice for you to discuss your needs with.
What happens next?
Click here or on the green speech bubble icon to the right of the screen. You then need to fill in the online form. A member of our team will then contact you to discuss your situation and objectives with you.