Self Invested Personal Pensions (SIPPS)

In addition you can invest in commercial properties. This reduces the cost of buying a property for a business substantially due to the tax benefits. You do have to pay rent to the SIPP however. Essentially you are a tenant renting the property from the SIPP and you must pay a fair market rent to the SIPP ( 4 - 8 % of the property value, though this value is accepted pracitice and not set by the revenue ). The rent itself is tax deductable and the rent going to the SIPP goes into your pension fund. In many ways a very attractive option if you're looking to buy commercial premises for your ...  Read the complete review

With the easing up of the Pension regulations in April 2006 I opened a SIPP account at the earliest opportunity. Basically a SIPP (Self Invested Personal Pension) is an opportunity for every man, woman and child to save money to draw as a pension. Pensions really are not as complex as everyone makes out and a SIPP is highly recommended; I cannot now imagine not having one. It allows you take control and monitor your investments in one place, to reduce dealing costs, help you to plan savings and take advantage of the huge tax break that is available. The only downside of contributing to a pension is that there is absolutely no way that you ...  Read the complete review

In recent years the options available for those reaching retirement with insurance company based pensions has become much more flexible, but with this additional flexibility comes choice and therefore decision. There are currently three clear alternatives for retirement planning and each have their merits. 1. Conventional and Unitised Annuities --------------------------------------- A conventional annuity is simply a promise made by an insurance company to pay an agreed sum on a regular basis until death. Compulsory Purchase Annuities are purchased with capital arising from pension funds and are taxed as income under PAYE. The earliest age at ...  Read the complete review