How Safe Is Your Pension
Defined Benefit, or Final Salary Schemes, in the UK have a collective deficit of £253 billion as at the end of March. This is reported by the government sp…
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10 March 2010
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Self Invested Personal Pensions (SIPPs)It is possible to set up an Income Drawdown or Alternatively Secured Income plan as a Self Invested Pension Plan (SIPP). A Self Invested Personal Pension (SIPP) Income Drawdown and ASP are similar in many ways to a normal Income Drawdown Plan. They come under the same basic rules as far as tax-free cash and income are concerned. The difference arises out of what the investments underlying the arrangement can consist of. In addition to the investments that a conventional Income Drawdown plan can use a SIPP can directly hold commercial property and stocks and shares quoted on a recognised stock exchange. Most SIPPs allow you to select from a range of assets, such as:
This list is not exhaustive and different SIPP operators will offer different ranges of investment choices. A SIPP Income Drawdown can be transferred to another SIPP or to a conventional Income Drawdown Plan or an Annuity at any time. |
I transferred my Civil Service pension fund to Skandia Life on the advice of Jonathan Walker in April 1997 the fund value at the time was £111 ... click here for more
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