SIPP ? a pension plan with advantages - Best Stock Market ...

SIPP pensions ? a brief look

When scouring for information regarding the various types of pensions available, most people hear SIPPS mentioned; an alternative type of personal pension, a SIPP pension is well worth considering due to the higher level of flexibility that it offers to you.

The benefits of a SIPP pension

Because SIPPS offer so much more flexibility, they are becoming an ever more popular choice for retirement planning. Unlike other pension plans, with a SIPP you can choose to invest in several different areas ? this is great news if you like to have greater control over your finances and your future. One way in which a SIPP is the same as other pensions though is that you will still enjoy the same tax benefits, so you don?t need to worry that where you?ll gain in one hand, you may lose in the other.

Another benefit of choosing a SIPP is that you also have more choice regarding the drawing down of funds. If you like, you can take an income by buying an annuity, or alternatively you can choose to take an unsecured income from an investment ? and if you can?t decide between the two, you can even opt for a combination. If you?re wondering about lump sums, then rest assured that you will be entitled to take 25% of your SIPP pension, completely tax free, upon your retirement if you wish.

So if SIPP pensions offer greater investment choices, then what are the typical investments that people choose? In reality, your options are fairly expansive, but common investments include shares, bonds and trusts, or commercial property for those who have big enough pension pots ? talk to a SIPPS adviser for further information.

SIPPS and your beneficiaries

Of course, none of us want to think about the end of our lives, but it?s important to know that your chosen pension will continue to benefit your family when the inevitable occurs. Apart from tax that will be due on any income that?s already been taken from your SIPPS, the remainder of the funds will be passed on as inheritance to your loved ones, completely tax free.

When looking into various pension options, you may also have heard the term ?pension wrapper?. A SIPP can act as a pension wrapper, by giving you the opportunity to manage all of your investments and any other pensions you may have in one easy package.

Because of their increased flexibility, a SIPPS could be the perfect way to put you in the driving seat and follow your own retirement path. It?s worth bearing in mind though that with any kind if investment, whether it be a SIPPS or anything else, it?s always a good idea to seek advice from a professional financial adviser before you commit to anything ? so contact an adviser today to find out if a SIPP pension could be the retirement answer that you?re looking for.

For more information on SIPPS and SIPP pension, Please visit us.

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Source: http://www.beststockmarketinvestment.com/2012/02/24/sipp-a-pension-plan-with-advantages/

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