Self-invested Pension Plans
Self-invested pension plans – SIPPS – provide a wider range of investment options than those available through most traditional pension plans.
Flexible investing and SIPP tax relief
SIPPS work in a similar way to many other personal pension plans. You add money to your pension and the government will pay an extra 20% in pension tax relief. If you pay a higher rate of taxation, you will normally be able to reclaim back even more via your annual tax return.
The investment growth within the fund is currently free from all UK Income Tax and Capital Gains Taxes. Investment is allowed in a number of assets and asset classes including equities, unit trusts, gilts and commercial property.
There are strict rules on what property can be held and how. The value may fall as well as rise and you may get back less than the amount invested. Pension and tax rules can change at any time and will be dependent on individual circumstances.
How does a SIPP work?
Saving in your pension in a tax-efficient manner is always desirable and SIPPS make this possible, along with the added benefit of flexibility. This flexibility allows you to spread the risk, especially if some investments perform badly. However, these do tend to have higher costs than a standard pension and active management is essential in order to maximise the benefits of the wider investment choice on offer.
For these reasons, self-invested personal pension plans will not be suitable for everybody and generally, only those who are experienced in actively managing their investment should consider this type of vehicle.
The value of a SIPP can fall as well as rise. You may get back less than you invested.
Committed to your objectives
Planning your retirement with Cooper Associates Wealth Management puts you in control so that you can be confident about your future.
Our financial consultants are hugely experienced in helping people plan a long and happy retirement with the lifestyle they desire.
We offer a service that is personal to you, delivering bespoke advice to suit your individual requirements. We have access to a range of plans to help provide for your retirement, no matter what stage of planning you are at.
Book an appointment
Our expert advice is no-obligation, simple and tailored to you. Why not book an appointment?
Cooper Associates Wealth Management have always put my best interests first by giving advice which is second to none. I would recommend their services to anyone as their knowledge, service and support is exceptional.
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