It goes without saying that you want your pension to work as hard as possible for your financial future. A SIPP (self-invested personal pension) is a type of pension that gives you freedom and flexibility when saving for your retirement. Prydis Wealth has extensive experience advising on flexible pensions, and they can form a very important part of your overall financial planning strategy.
What is a SIPP?
A SIPP is a type of personal pension plan. Like other types of pension, it’s used to build a retirement fund for your future. A SIPP can have just one member, but it is also possibly to operate a Group SIPP, whereby family members or business partners can pool their funds together.
What are the benefits of a SIPP?
- Provides the ability to access a wide range of investments
- Allows you to draw from your pension in a flexible manner
- As with other pension arrangements, you receive tax relief on company and personal contributions
- You can purchase non-residential property and land
- You can borrow within the pension providing additional liquidity for investment purposes
- You can invest into private companies and other investments not accessible through other types of pension vehicles
Get more freedom on your investments
One of the biggest benefits of a SIPP is the freedom to control your investment choices. It’s far more hands-on and allows you to be more active in your investment selections. Whether you work with a financial adviser or go it alone, ultimately the investment choices are made by you. This doesn’t necessarily mean you have to manage all of the investments yourself, as you can still instruct a professional to do it for you (on all or part of your fund).
How can Prydis help?
Thanks to an integrated team of financial experts, we have the expertise to help you manage your SIPP effectively and efficiently. We can assist you with establishing the right structure, transferring in your other pensions (including defined-benefit or final salary schemes), and executing any investment transactions once everything is in place.
We give our clients the ability to monitor their investments via our secure online portal. And thanks to our prestigious Chartered Financial Planners designation – the gold standard for financial planning firms – you can be confident that we are offering the best of advice.
For more information about building towards your financial future with Prydis, get in touch. by calling our Exeter office on 01392 432431 or our London office on 0203 8239059.