A Self Invested Personal Pension (SIPP) operates in the same tax-efficient manner as a Personal Pension. The main differences are:
- Wider investment options
- Flexible income options
- Bespoke advice
Further information on these SIPP benefits is provided below.
Unlike a “standard” personal pension a SIPP has the ability to invest in a much wider range of investments, including directly into commercial property. This allows you to create your own personal retirement strategy, instead of being restricted to an insurance company’s own range of funds.
Details of your investment options can be found under What can a SIPP invest in?
Boolers Wealth Management service.
Commercial property purchase Case Study
A SIPP has the flexibility to adapt to key milestones through your life. Some of the main features of how a SIPP does this are:
- The ability to increase and decrease income levels through retirement.
- The flexibility to defer or completely avoid the purchase of annuities on retiring.
- The option to take a Tax Free Cash Lump Sum and defer taking an income (from age 55 as of 6th April 2010).
- Greater control over your pension fund assets through retirement.
The easiest way to show the benefits of this is by a working example, our Taking Benefits at Retirement Case Study may provide a useful starting point.
A bespoke SIPP comes with advice and support to integrate within your overall wealth strategy. Each individual has different needs depending on their personal circumstances, existing pension provision and income tax position.
Our experience and long term technical background places us in a unique position to provide individual advice.
For more detailed information on our bespoke services please refer to: The Boolers SIPP Focus
If you are considering a SIPP you may be thinking Is a SIPP right for me?
If you wish to discuss your options in greater detail please contact us.
