Income Drawdown with SIPP Options

admin — Tue, 17 Nov 2009 11:43:39 +0000

The Prudential Flexible Retirement Plan (FRP) offers the following benefits:

Single product wrapper containing a personal pension, income drawdown and SIPP options
Account style structure allowing ease of transition between the different components of FRP
Ability to hold protected rights and non protected rights
Lifetime value charging structure with AMC discounts for fund size and longevity of investment (excludes the Self-Invested Fund and the Income Drawdown Holding Account)
Transparent and flexible
Wide range of investment options including the recent addition of our PruFund Cautious Funds, and PruSelect fund range

Find out more about how this product could benefit you call 0800 043 0725

Kevin Stelfox, Retirement Solutions, Independent Financial Advice on Income Drawdown

Self Invested Personal Pensions SIPPs

Self Invested Personal Pensions SIPPs

admin — Fri, 02 Oct 2009 10:08:55 +0000

SIPPs

The basics

Fancy a Rolls Royce pension, rather than the pension equivalent of a Ford Mondeo or a Smart car?

Then take a look at Sipps – the luxury model of the pensions market, which comes with all the bells and whistles you could dream of, compared to personal pensions (think Ford Mondeo) or stakeholder pensions (think Smart car).

But remember that luxury comes at a price and that while we may all yearn for a de-luxe car or pension, they may not necessarily suit our needs, or more importantly, our pocket.

Self invested personal pensions (Sipps) are personal pensions which allow you to choose where you want your retirement savings to be invested, instead of leaving a pension company to make the decisions.

You can hold a wide variety of investments in a SIPP, from investment funds and shares to commercial property and futures and options.

SIPPs have been around since the early 1989, but until recently were only economic for those with very large pension funds because they were so expensive. Increasing competition in recent years has brought charges down and made them more accessible.

Changes in the pension rules in April 2006 (known as the A-Day changes) allowing increased contributions have also made it easier to set up a Sipp. In addition, more people are now turning to SIPPs when they reach retirement, if they want to take an income direct from their pension fund, in the form of a so-called ‘unsecured pension,’ which gives them greater control over how and when they take income from their fund.