Helping you make the most of the new pension freedoms rules Drawdown allows you to take income directly from your pension fund without the need to purchase a lifetime annuity. In turn, this allows your pension fund to remain invested in the assets of your choice whilst taking an income.
Major shift in how you can access your pensions New rules about pensions came into effect on 6 April 2015, providing more choice for anyone who has a private or occupational money-purchase pension.
Transferring other pensions into a Self-Invested Personal Pension If you have a UK registered pension scheme with another company, you can transfer its value into your pension fund. However, by transferring benefits from another pension provider into your Self-Invested Personal Pension, you may give up the right to guarantees over the kind of benefits, the […]
Maximum total amount that an individual can hold within all their pension funds There’s also a maximum total amount that an individual can hold within all their pension funds without having to pay extra tax when you withdraw money from them. The lifetime allowance is a limit to the amount you can save in your […]
Limiting the amount of contributions you can make each year which attract tax relief Every year, you receive an allowance for making contributions into a Self-Invested Personal Pension. The Government sets this limit because your pension contributions are topped up with tax relief.
Flexibility over where your money is invested to fit in with your overall investment strategy Self-Invested Personal Pensions are likely to be most suited to experienced investors who are comfortable choosing and managing investments themselves. You need to have the necessary skills to invest your own pension fund, and you must remember that the value […]
One of the most tax-efficient ways of saving for retirement Self-Invested Personal Pensions are one of the most tax-efficient ways of saving for retirement, and you can invest up to the annual allowance for tax relievable pension contributions (currently £40,000). As always, please bear in mind that tax relief will depend on your individual circumstances, […]
Saving for a retirement that puts you in control of your financial future Just like any other kind of pension, Self-Invested Personal Pensions are designed to help you save for retirement and take an income when you reach it.
Cover for A tax-free wrapper in which you hold a wide range of permitted investments you and your loved ones Self-Invested Personal Pensions (also known as ‘SIPPs’) are being used by a rising number of private investors keen to take control of their retirement planning. First introduced in 1989, SIPPs have evolved into the favoured […]
Dads putting their family’s financial security at risk if the unexpected were to happen What would happen to you and your family in the event of unforeseen circumstances, such as the diagnosis of a serious illness or premature death? Worryingly, research from Scottish Widows reveals that more than half (53%) of men in the UK […]