SIPPs

What is a SIPP?

SIPP stands for Self-Invested Personal Pension.  It is a form of pension that allows you to make your own investments into a personal pension pot. 

You will probably need additional investment advice as SIPPs are only really suitable for a small number of people who wish to make unusual investments – such as works of art, antiques, wine, and any other valuable assets, such as cash and shares.  You can also invest in commercial properties with a SIPP to receive a large tax benefit.

Generally, SIPPs are more expensive than other pension schemes.  By producing a financial plan and looking over your existing investment portfolio, an independent financial adviser will be able to tell you if this is the most suitable form of pension for you.  They should also be able to offer you extra tax help or tax advice to make the most of any scheme you choose to undertake.

How do I get a SIPP?

Although SIPPs are advertised as ‘do-it-yourself’ products, they are legally quite complex and need a proper pension fund to be set up with trustees.  We cannot stress enough that you must seek independent financial advice and you must shop around before making any decisions.

Any questions about SIPPs?

If you are part of the millionaire asset group or a small business owner, pensions advice is an important area for you to consider fully and a financial planner will be able to help you.  If you have any questions, please call us on 01582 839280 or Email us.