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  • The Treasury announces it is to lower the tax free pension annual contribution

    An announcement by the Chancellor last week, was made to lower the limit on lifetime tax-free pension savings. Which meaning a punitive rate of tax will be levied on all pension pots totaling more than £1.25 million. A male worker in the private sector would have to save £1.44 million to receive a £43,387 pension at current annuity rates. A woman would need to save £1.34 million. Ministers said the cap would …

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SIPP Pensions

SIPP Pensions

SIPP pensions – advice and support from Guardian Wealth Management

SIPPs, or Self Invested Personal Pensions are becoming increasingly popular with people organizing with regard to their retirement – and with strong reason.

Whilst a person may possibly already be paying into an occupational pension, there’s nothing quite like being in control – and with SIPPs, control is specifically what you obtain. If you’d rather become the one calling the shots and choosing your own investments, then a SIPPs pension plan could be the ideal answer.

SIPPs act as a ‘tax wrapper’ supplying you with financial advantages on many different kinds of investment – thus providing the  chance for you to make the proper choices, you may enjoy some fantastic tax allowances as well as the knowledge that you’re working towards a far more comfortable retirement.

SIPPS – benefits and investments

With a SIPPS, benefits don’t stop at the control and tax advantages we’ve already mentioned. The various investments which are eligible under a SIPPS scheme is also a big attraction for many savers – along with this type of pension no longer being exclusively beneficial to those in the higher income class, their benefits are now being extensively felt across the retirement landscape.

While many assets and investments will be subject to taxation, you are able to invest in the following with your SIPPS and enjoy the fruits tax free:

  • Commercial property
  • Regulated investment trusts
  • Gold bullion
  • Stocks
  • Shares
  • Unit trusts
  • Traded endowment policies

The control and suppleness of a SIPP pension isn’t restricted to the self investment aspect or the different types of assets you can choose either. When it comes time to put your feet up and retire, it is possible to draw a pension from a percentage or the entirety of your SIPPS fund. Once you’ve drawn your tax-free lump sum, you can purchase an annuity with the rest, or alternatively, ensure that it stays invested in a ‘drawdown’.

Needless to say no financial decision is without its difficulties – with a SIPP pension, what is important to think about is whether or not you’re really happy to shoulder the responsibility of your retirement planning yourself – it’s certainly not for everyone.

Our financial advisers are here to assist

Making long term pension decisions and financial commitments can be quite a confusing time; thankfully our independent financial advisers here at Guardian Wealth Management are always available to provide their expert help.

We are able to talk you through the various potential ways in which a SIPP may benefit you and the options that they can present. Talking in a clear, jargon free language that you’ll really understand, we are here to supply you with clear SIPPS advice so that you can come to the appropriate conclusion for your personal needs.

With advisers across the world, Guardian Wealth Management is here for your financial planning needs. Feel free to download our FREE QROPS Versus SIPPS Guide now?

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