What is a SIPP pension ?
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SIPP is a self invested personal pension that can help you invest for your retirement and allows you to take advantage of the tax incentives currently available.
Introduced in 1989 by Nigel Lawson, Sipps give you more control over a personal pension than if you invest solely via a pension company. Even people in occupational pension schemes will be able to start one.
You can invest in a SIPP even if you are already an active member of an employer's pension scheme. SIPP allows you to choose when, how much and where to invest according to your circumstances and needs at any particular time.
Since April 2006 the maximum contribution upon which tax relief can be claimed is £215,000 or your earnings, whichever is the lower. From 6 April 2006, for the first time, HM Revenue and Customs will permit a tax-approved SIPP pension scheme to invest in property.
You You will be able to invest in SIPP commercial property, as Sipp property investment could provide substantial returns over the long term. A Sipp property investment is most suitable for self-employed people who are enjoying good incomes.
There are a considerable number of SIPP pension fund providers to whom you can entrust your SIPP pension investment.
For more information and SIPP pension advice on company pension schemes or how to take advantage of tax relief on pension contributions, contact your specialist taxation or pension advisor.