Understanding if a SIPP is right for you
Self-Invested Personal Pensions (SIPPs) have become a very popular as a way to save for retirement in recent years, providing a more flexible type of investment for anyone looking to diversify their pension investments and have their money work for them. Here we will explore if a SIPP could help you make the most of...
Defined Contribution and Defined Benefit schemes explained
Pension Schemes generally fall into one of two categories, Defined Benefits and Defined Contribution schemes. Whilst most pension products now fall into the Defined Contribution bracket, some employers still offer Defined Benefit pensions. An iSIPP is a Defined Contribution pension. Whilst Defined Contribution schemes may offer some advantages, like all investment products they are not...
Pension Funds – What are they?
Self-Invested Personal Pensions are a way of saving for your retirement. As well as being a savings product they are also an investment product, meaning the money you save for retirement, including tax relief is placed into Pension Funds and invested. What are Pension Funds? With a Pension Fund, the savings of many investors are...
Pension contributions explained
In this post, we will be explaining the pension contributions you can make to your SIPP. We will also explaining who can pay pension contributions into your SIPP. We’ll be breaking down the key points whilst also simplifying legal definitions. For a more detailed overview, be sure to look at the Key Features Document for...
Pension divorce rules
Sometimes things in life don’t go according to plan and you and your partner might have decided to separate. Going your separate ways creates a lot of financial administration and you might be wondering how the split might affect your pensions going forward. Here we will explore how a separation may affect your pension and...
Guide to accessing your pension
One of the main advantages of a Self-Invested Personal Pension (SIPP) is the flexibility this kind of pension scheme offers when choosing how to access your pension. Since 2016, the UK government made it easier for investors to access their pension when they reach age 55, providing multiple ways this can be done to suit...
Pensions and tax
When considering your retirement income, it is a good idea to have a firm grasp of tax rules surrounding your pension. Here, we will take you through the basic rules regarding pensions and tax, helping you understand your obligations in retirement. It is a common misconception that income from your pension is tax-free. Normally, withdrawals...
Should I combine my pensions?
It’s perfectly normal to have several jobs throughout your working life, and in doing so, you might have accumulated an assortment of different pensions along the way. According to The Times, 1.6 million pensions are lost in the UK often due to people moving house or changing jobs, the value of which is estimated to...
What is the difference between a SIPP and a SSAS?
When looking for pension schemes that help you to plan efficiently for retirement, two types often come to the would-be investor’s attention: SSAS’ and SIPPs. So, what is the difference between a SSAS and a SIPP? In basic terms, they are both regulated pension schemes. This means HM Revenue and Customs (HMRC) underlying rules on...
