SIPP A Self-Invested Personal Pension (SIPP) is a type of personal pension plan. It’s a UK government-approved scheme, which allows individuals to make their own investment decisions from the full range of Her Majesties Revenue & Customs (HMRC) approved investments. Charges on SIPPs are generally higher than those on personal pensions. SSAS A Small Self-Administered Scheme (SSAS) is a type of occupational pension scheme. Schemes are trust-based and established individually for specified employees of the company. It provides a tax-efficient environment in which a company’s profits can be invested to provide significant retirement benefits for directors. As the fund grows it can work for the company and still generally be free from creditors should the business fail. STAKEHOLDER PENSIONS Stakeholder pension schemes were introduced in the UK on the 6th April in 2001 to encourage more long term saving for retirement, particularly among those on low to moderate earnings. They are required to meet a number of conditions set out in legislation, including a cap on charges, low minimum contributions, and flexibility in relation to stopping and starting contributions. They are designed to be straightforward, flexible, and inexpensive.
Posted on: Tue, 08 Oct 2013 11:32:17 +0000
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