SIPPS offer great flexibility and have significant advantages over conventional pensions and yet tax relief of up to 40% on contributions is still granted
A Self Invested Personal Pension (SIPP) is a personal pension but with added flexibility. Unlike most traditional personal pensions, a SIPP offers you lots of different investment options. It puts you in control of your money and your life.
The range of investment options which are available by Holborn Assets South Africa include:
Regardless of earnings, any individual aged 75 and under, and resident for tax in the UK, can contribute £3,600 to a pension in any one tax year or a higher amount depending upon earnings.
As from April 2006 the maximum contribution will be 100% of earnings up to a maximum of £215,000 per annum. SIPPS offer great flexibility and have significant advantages over conventional pensions and yet tax relief of up to 40% on contributions is still granted.
Whilst the possibility of being able to draw an income from your pension fund is attractive, we believe that it is very important to have maximum investment flexibility. If you are approaching retirement and would like to use a SIPP to draw your pension please contact a qualified Holborn Assets adviser.
Previously the option to invest in property was restricted to commercial property but, with effect from 6th April 2006, this was extended to residential property, which has proven attractive to many potential investors.
As with all investments, the value of the fund you have invested can go down as well as up and you may not get back as much as you invest, which is why you should seek active investment management and investment advice.
There are numerous advantages to SIPPS which include:
As from April 2006 the maximum contribution will be 100% of earnings up to a maximum of £215,000 per annum. SIPPS offer great flexibility and have significant advantages over conventional pensions and yet tax relief of up to 40% on contributions is still granted.
