WHAT IS A SIPP Pension?
A SIPP Pension is a cost-effective and tax-efficient way to invest and gives you exceptional choice, freedom and flexibility in how you save for your retirement – while offering all the usual benefits of a personal pension.
A SIPP Pension offers a far wider range of investments than traditional pension plans, including funds from many investment companies, shares and commercial property. SIPPs can also be useful for consolidating a range of pension plans, especially if you are interested in using income drawdown in retirement. When you want to start withdrawing funds from your SIPP – between the ages of 55 and 75 – you can take up to 25% as a tax-free lump sum, with the remaining fund used to provide you with a Taxable income.
AM I ELIGIBLE?
You can open a SIPP if you are under 75 and resident in the UK. If you move abroad after taking out a SIPP, investment restrictions may apply. If you are 75 or older, you can only open a SIPP if you are transferring a pension from another pension provider or a registered pension scheme.
GETTING ADVICE
Your adviser can help you set up a SIPP. They will be able to select suitable investments for you and, in the future, review your SIPP to ensure your progress is on track. By working closely with your adviser, you could start planning for a more secure financial future.
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