Self Invested Pensions
Thomas Carroll Independent Financial Advisers offer expert advice on Self Invested Pensions. For individuals who require specialist retirement planning advice, such as secured loans for property purchase, or access to discretionary fund management, we can recommend a SIPP (Self Invested Personal Pension) or SSAS (Small Self Administered Scheme). These products can offer a wide range of investment possibilities and have significant flexibility in terms of drawing pension benefits.
A SIPP can be arranged on an individual or a Group basis. A SIPP offers a greater number of funds, as well as the opportunity to invest directly in a number of different assets, including UK stocks and shares, unlisted shares, commercial property and collective investments such as unit trusts.
Recent developments have introduced additional products alongside a SIPP such as Individual savings accounts (ISA), a general-purpose investment account and an offshore bond. You can view the value of your portfolio and manage your savings, investments and retirement income in one place.
A Group SIPP may be suitable if you want to offer all or some employees a good benefit package and access to non-insured investment options.
A small self-administered scheme (SSAS) is an occupational pension scheme set up under trust with fewer than 12 members. The majority of schemes are set up for the executives of director-controlled companies and as many such companies are family businesses, the members of the scheme are frequently related.
A SSAS is the only pension that can lend money to a connected business. This is important for three reasons. Firstly, it can provide a good return for the pension scheme above and beyond any cash deposit account. Secondly, it can provide a very low cost source of borrowing for the business. Finally, if the funds that are borrowed by the business are used wholly and exclusively for business purposes e.g. new computers then a second tranche of tax relief can be granted (double tax relief).
We would be delighted to review your current arrangements and provide advice to help you achieve your retirement goals. Whatever the nature of the review, as a Chartered Financial Adviser, you can be assured that we will provide a solution that is based entirely on your needs.
The value of investments (including property) and the income derived from them may go down as well as up.
Meeting workplace pension reform is one of the most challenging obligations faced by British business owners today. Information and sound planning are key to avoiding regulatory penalties,
All employers operating in the UK must automatically enrol eligible employees into a qualifying pension scheme between now and 1st April 2017.