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Regardless of what stage in their career a client is at, it is a priority to plan for the future. Over half of UK residents either do not save at all or, do not save enough to provide their desired standard of living in retirement. We assist clients to review any existing pension provisions, and where appropriate we may direct them towards tailored pension options.
We offer an award-winning Self-Invested Personal Pension (SIPP). A SIPP is a pension wrapper that holds investments until a client retires and begins to draw an income. It is a type of personal pension and works in a similar way to a standard personal pension. The main difference is that with a SIPP you have more flexibility with the investments you can choose. Clients can opt to have an investment professional look after their portfolio, or they can look at execution-only options where they may choose and manage their own investments.
In April 2015 the pension rules changed, giving savers more freedom over what they do with their money. On top of the usual 25% tax-free cash it is now possible to stay invested at retirement, take a regular income through flexi-access drawdown or an annuity, or make ad hoc lump sum withdrawals (all three options are taxable as regular income).
The value of investments, and the income derived from them, can go down as well as up and you can get back less than you originally invested. This does not constitute personal advice. If you are in doubt as to the suitability of an investment please contact one of our advisers. Past performance is not a guide to future performance.
SIPPs are not suitable for everyone. If you don’t want to invest across different asset classes or don’t think you will make use of the investment choices that SIPPs give you then a SIPP might not be right for you.Self-directed investors should regularly review their SIPP portfolio, or seek professional advice, to ensure that the underlying investments remain in line with their pension objectives.
Everyone has access to free guidance to help them make sense of their options at retirement. This service is provided by consumer-facing, impartial organisations such as Pensionwise, available at www.pensionwise.gov.uk.
These pages are for professional use only.
Tilney is part of the Society's partnership scheme. The 'Services for your Client' pages are intended to provide members with relevant information and resources that may assist their work. The Society does not endorse or take responsibility for any advice, products or services mentioned within these pages.