Skip to main content

You are here: Home / Our Products / Full SIPP

 

Full SIPP

Our Full SIPP is an extremely flexible Self-Invested Personal Pension which allows investment in all areas permitted by HM Revenue and Customs (HMRC), from equities to commercial property.

Key Benefits

Product Features

  • No Discretionary Investment Management or Commercial Property panels giving you the flexibility to choose partners that most meet the needs of your clients. The Full SIPP allows you to work with investment providers and solicitors that you respect and trust.
  • Allows borrowing in line with HMRC rules, which is currently 50% of the net pension fund value. Your clients SIPP can borrow for any investment purpose.
  • Allows commercial properties to be purchased on a syndicated basis. Some providers only allow a property to be purchased on a syndicated basis where all the owners are invested with the same provider. The Full SIPP allows syndicated property purchase with non-members.
  • No commercial property lending panel enabling you to negotiate the best terms for your clients.
  • Allows both in-specie transfers and in-specie contributions.
  • Full income flexibility provided through drawdown pension and flexible drawdown.
  • Adviser Charging paid directly from the fund by way of a simple process.

Fixed Protection

From April 2012 the lifetime allowance is decreasing from £1.8 million to £1.5 million. The reduction could mean that your clients could lose out on up to £75,000 tax-free cash if the appropriate steps are not taken so it is important that you understand the impacts of the change.

Fixed protection will be introduced from April 2012 and is a new form of transitional protection that individuals who do not already have enhanced or primary protection can apply for. It will protect pension savings up to £1.8 million from a lifetime allowance charge. Advisers and clients can apply for this now by completing HMRC’s form which is available on their website. Please ensure HMRC receive any applications by 5 April 2012.

Fixed Protection Form

Unlike primary protection, there is no requirement to have a fund in excess of the lifetime allowance to apply for fixed protection. Younger clients with large pension funds, or funds which could grow significantly, may want to consider fixed protection if they believe that future lifetime allowances will be low or non-existent. However, clients need to be aware that once fixed protection is in place, no new contributions may be paid to a money purchase arrangement on or after 6 April 2012.

In addition, the amount of benefits that can be accumulated under a defined benefit (DB) scheme after 6 April 2012 will be limited. This could mean that some individuals will need to opt-out of their employer’s scheme. If an individual who has opted-out becomes auto-enrolled in a new scheme, they will also have to opt-out of this new scheme. If an individual does not opt-out, they will lose fixed protection.

Trade international equities on i.nvest

You can find out more about trading in international equities by contacting our SIPP Servicing team on SIPPServicing@alliancetrust.co.uk. Or you can call 01382 573 610.