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SIPP Pensions

SIPP Pensions (Self Invested Personal Pension) are personal pension plans which allows the invester a much broader range of investments compared to a traditional Personal Pension.

SIPPs allow a much broader range of investments including commercial property, land, overseas property funds, residential property funds, quoted and unquoted shares, trusts, unit trusts and OEICs. As well as having excellent investment freedom SIPP pensions still maintains the significant tax advantages of a pension, with full tax relief on contributions.

A SIPP also offers much greater flexibility in the way benefits may be taken in retirement. You may retire at any age between 50 (age 55 from April 2010) and 75 with no penalties. Up to 25% of the value of your SIPP investments can be taken as a tax free cash sum whilst the remainder remains invested.

At retirement, you have a number of choices with your sipp pension. You can draw income from your invested fund, known as income drawdown, buy an annuity, or have a combination of phased retirement and income drawdown.
At age 75 you must either buy an annuity, or continue drawing from your invested fund using ASP (Alternatively Secured Pension)

Employers can also set up group sipp pensions for their company. A different class of contribution levels can also be set up for different classes of employees.

A list of some of the sipp providers is below:

    * AXA
    * Prudential
    * Standard Life
    * Liverpool Victoria
    * Aviva
    * Pointon York
    * IPS Group
    * Hornbuckle Mitchell
    * SIPP centre

This list of SIPPs Providers is not exhaustive and we will add more later.