Self-Invested Personal Pension (SIPPs)

The Cunningham Coates Stockbrokers SIPP service provides for the professional management of your personal pension scheme, on either an advisory or discretionary basis. Each plan is tailored to your individual investment objectives & risk profile, providing a combination of new and traditional concepts in pension provision. This is designed to give you investment flexibility and control over the strategy of your pension fund.

Advantages

• Contributions qualify for Income Tax relief
• Funds grow free from higher rate Income Tax, Capital Gains Tax, and Corporation Tax within the Pension wrapper.
• SIPPs offer potential for IHT planning and provision for your spouse in the event of your death.
• A tax free lump sum may be taken on retirement
• SIPPs are very effective tools for use in retirement planning facilitating income drawdown and phased retirement
• Due to changes in Pension legislation from April 2006, after the age of 75 there will be no compulsion to purchase an annuity with the introduction of an ‘alternatively secured income’.
• Under the new legislation ‘concurrency’ will apply and this will allow those contributing to occupational schemes to top up their savings for retirement through additional contributions to a personal pension or through the more flexible option of a SIPP.
• Flexibility is an important feature and a wide range of investments can be held including:
• Stocks and Shares traded on a recognised exchange
• Futures and Options relating to stocks and shares traded on a recognised exchange
• Gilts, Debentures and other fixed interest securities
• Unit Trusts, Investment Trusts, OEIC’s
• Contracts /policies of insurance linked to an insurance company
• Traded endowment policies
• Deposits in any currency
• Property and Land

Establishment of your SIPP is straightforward with Cunningham Coates Stockbrokers acting as Investment Managers and James Hay Pension Trustees acting as Pension Trustee. Leading administrators James Hay provide the underlying legal framework for the SIPP, which is set up under Trust, and approved by the Inland Revenue under Chapter IV of Part XIV of the Income and Corporation Taxes Act. The SIPP is subject to the same legislation as a normal personal pension but cannot be used to contract out of the State Second Pension (SP2). Contributions to the SIPP can be made by an individual and/or an employer and can vary in amount up to Inland Revenue limits. Transfers of other plans can also be easily affected.

Cunningham Coates Account Executives will be glad to discuss the SIPP service and other related investment services in more depth or answer any queries you may have. Cunningham Coates Stockbrokers is not authorised to give advice on Pensions & Pension transfers , however, at your request we can arrange this through our recommended advisor: ASM Horwath Financial Consultants Limited. Authorised & regulated by the Financial Services Authority.

Donegall Place, Belfast