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Work place pensions

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Self Invested Personal Pension (SIPP)

Have more control over what your pension fund invests in

If you have a relatively large pension pot and you are comfortable with making investment decisions you might like to consider a self invested personal pension. The SIPP provider will take care of the pension administration legal requirements.

Self invested personal pensions qualify for the same tax relief and contribution limites as personal pensions but one of the major difference between them is investment choice. With a personal pension you are normally restricted to the pension provider investment funds whereas with a self invested personal pension the investment choice is fairly broad.

The investment choice you have do differ from provider to provider but below gives a general list,

A SIPP could also be considered nearing retirement as an alternative option to purchasing an annuity. You could re-invest your accumulated pension pot (or, for that matter, pension pots if you have more than one pension) into investments of your choice through a SIPP and take income withdrawal as your retirement income. Also, as with a personal pension, at retirement you are free to take the allocated tax free lump sum and leave the remaining portion in the SIPP to continue providing your retirement income.

SIPP types available


If you have a pension pot of at least £150000 you may consider a full SIPP. These types of SIPPS offer the widest range of investment types including commercial property - if you have a business that owns its own premises you could sell the premises to your SIPP thereby freeing up capital tax efficiently.

Low cost SIPP

These types of SIPP offer a wide range of investments but do not allow investment in property directly, offshore funds or unquoted shares. They may suit people with a smaller pension pot than £150000. To keep the cost low they are execution only - so, as with all investments, you need to thoroughly understand investment types and risk and your risk tolerance.

Hybrid or insurance SIPPs

These types of SIPPs are provided by financial institutions. You will normally be required to invest a large portion of your pension fund into the providers own investment funds before being able to allocate any of your pension pot funds to your own asset choices. If this seems too restrictive you may like to consider ons of the other two SIPP types available.

If you are considering a SIPP you will find there are so many questions that need to be answered. Let one of our experts in this field help you. We are happy to bear the cost of your initial consultation giving you the chance to ask us questions on how you can make the right decisions for you.

Call 0800 634 4846 to arrange your initial consultation