A Self Invested Personal Pension (SIPP) enables members to provide for retirement through a fund which they and their Financial Adviser have full investment control, while enjoying the tax benefits available under a registered pension scheme.
The Harsant SIPP is a HMRC (Her Majesty's Revenue & Customs) registered pension scheme and is authorised and regulated by the Financial Services Authority (FSA).
The Harsant SIPP can receive employer and personal contributions and transfers from other registered pension schemes. How you manage your pension savings plan will determine the value of your pension fund which is to provide an income in later life.
The Harsant SIPP provides an alternative to conventional personal retirement pensions by offering maximum choice, control and flexibility both in investing for retirement and taking benefits.
What the SIPP provides:-
Initially, all funds are held in a designated bank account. This is a high interest account, with no bank charges on normal day to day transactions, and interest is paid gross with no tax. You and Harsant Pensioneer Trustees Ltd are the account holders and signatories. From this account funds can then be invested in a wide range of assets including the freedom to hold stocks and shares and commercial property. The way you invest your fund is entirely in your hands. With the help of your Financial Adviser you may choose to have an investment adviser to manage your fund, a discretionary fund or a stock broker. You may wish to invest in collective funds, income producing funds, property funds or individual shares. It may be that you have seen a commercial property and wish to buy this with your pension fund and rent it to your company. There is no income tax to pay on rental income and no capital gains tax to pay when you sell the property. You can lease to a third party, the SIPP can purchase commercial property you already own, several Harsant SIPP owners can form a syndicate and purchase a commercial property. The pension fund can also borrow money to help purchase the property.
You have the ability to pay contributions into the Scheme up to the maximum levels permitted by HMRC and within the Annual and Lifetime Allowance. Contributions can be varied, stopped and started with no penalty to suit career, lifestyle and individual circumstances. Regular or one off contributions can be made and Harsant reclaim basic rate tax on your behalf from HMRC.
The ability to accept transfers from previous tax
approved pension arrangements. At any time
these can be added to by further transfers
including transfers from qualifying recognised
overseas pension schemes (QROPS). Significant tax advantages with tax relief on
contributions (within the Annual and Lifetime
Allowances) and tax free growth on investments
(excluding dividends in UK equities). Flexible income withdrawal options. Benefits
can be taken at any time from age 55 (age 50
before 2010) with a choice of pension
arrangements. Income can be phased for those wishing to retire
gradually and benefits need not be linked to
retirement from work. You will be free to take
other factors into account before deciding to
draw money each year, e.g. other sources of
income.
Harsant Pensions have a reputation for service and
the pension administration team are available for
information, technical analysis and telephone help.
You will speak to someone who knows you and
your pension fund and they will respond quickly
and efficiently to meet your requests. The wide range of services we offer include:
|
