Self Invested Personal Pensions (SIPP)

Many people are understandably distrustful of investing their money in arrangements packaged by institutions. The taxation benefits of investing through pension funds remain however very attractive, and, the relaxed contribution limits together with the removal of most constraints on investments after April 2006 (see Pensions Simplification section) have massively increased interest in the self-invested personal pension alternative.

A SIPP enables you to be much closer to the action. Rather than give your money to a faceless life office and then, as many people do, largely ignore what is a happening to it, instead within a SIPP your money firstly goes into a bank account and then you decide yourself or with your professional adviser how you would like it to be invested.

Our in-house SIPP, the Pilgrim SIPP is managed through a bank account with Bank of Scotland. Whilst your money initially is on deposit it earns an attractive rate of interest, until you are ready to invest it.

The Pilgrim SIPP will allow you to take advantage of any investment opportunity that is allowable by the Inland Revenue for pension fund investment.

Since April 2006 this includes the ability to gain exposure to the residential property sector - overseas as well as in the United Kingdom. This must however be through a property syndicate. A property syndicate must have at least 11 unrelated members that together acquire property through a vehicle.

To find out more about property syndicate investment through a SIPP

You may well have your own views about investments that you would like to make. You may wish to take advice from us at Premier Financial Solutions or elsewhere. When those investment decisions have been made, you are a signatory to the cheque that implements those investments alongside a director of our trustee company.

We then provide you with regular updates about how your investment s are doing and, if you are using our advisory services regular advice about investment opportunities that arise from time to time that we think will be of interest to you and fit your risk profile.

Through the Pilgrim SIPP the investments you are allowed to make include :

Cash on deposit
Shares - including unlisted shares
Gilts
Unit Trusts and OEICs
Investment Trusts
Commercial Property
Residential property via a syndicate.
Insurance Company Funds

Find out more about what you can use the Pilgrim SIPP to invest in.

We can also help you when the time comes to take benefit, as it is not necessary to secure an annuity until you are 75.

Indeed, from April 2006 the compulsion to buy an annuity has disappeared. But the Government proposes taxing this possibility to an extent that may render it unattractive. Click here to read our newsletter about this.

To find out more about the Pilgrim SIPP please contact us at 0845 226 4823 or fax your enquiry on 01278 457673

Or email us at: info@premierfinancialsolutions.co.uk