Pensions
Obviously, as financial advisers with thirty years experience, we’re familiar with setting up all the different types of pensions.
In our time, we’ve arranged Personal Pensions, Stakeholder Pensions and Executive Pension Plans. We’ve also organised Drawdown and Phased Retirement schemes on behalf of our clients. And we’ve set up staff pension schemes on behalf of companies.
But recently, Pensions have undergone something of a revolution. You no longer have to rely on an insurance company, with their hefty charges and restrictive practices, to provide yourself with a pension.
Instead, there’s something called a Self Invested Pension Plan, or SIPP for short.
As its name suggests, a SIPP allows you much more freedom, as you can choose where your money is invested yourself. You’re not at the mercy of an insurance company.
And you can tend those investments, like plants in a greenhouse, pruning those that are underperforming and propagating those that show growth.
Of course, we can do this on your behalf, or, if you wish, you can nominate a third party to keep an eye on your investments for you.
Either way, you won’t be charged a penny in commission. Everything you invest will be 100 per cent invested.
A pension is a long term investment. The fund value may fluctuate and can go down.
Your eventual income may depend on the size of the fund at retirement, future interest rates and tax legislation.