Pensions & AnnuitiesWhat is a SIPP? (Self Invested Personal Pension)To briefly explain how a SIPP works, it is a personal pension that offers you the widest range of investments to choose from. It provides you with the opportunity to choose from the best funds, the best service providers and to get the best value for your money. It offers you even more flexibility when it comes to taking your benefits at retirement, with more choice and flexibility than a traditional personal pension. Is SIPP suitable for me?A SIPP may be suitable for you if you are self-employed, your employer does not have a pension scheme or if you have a number of pension plans, which you would like to transfer into one plan. It is particularly suitable for you if you want:
Income drawdown is usually only suitable if you have a pension fund of £100,000 or over and have other assets or income to live on. This is because the fund that you don't use to provide benefits remains invested, so there is less certainty about the pension that your remaining fund will eventually provide. You are eligible for a SIPP if you are under age 75 and resident in the UK. If you are 75 or older you can only join if you are transferring an Alternatively Secured Pension(ASP) fund from another pension provider or registered pension scheme. ASP is a continuation of income drawdown after age 75. |
Pension Terms Explained ... |
Braemar Wealth Management (NW) Limited is authorised and regulated by the Financial Services Authority. Braemar Wealth Management (NW) Limited is entered on the FSA register (www.fsa.gov.uk/register/) under reference 425022. The FSA does not regulate some forms of tax planning and investment structures. |
|
