Take control over what is rightfully yours by investing in SIPP

Consolidate UK Pensions earned through previous employment into one tax efficient, flexible, cost effective SIPP (Self Invested Personal Pension)

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What Is a SIPP?

A Self Invested Pension Plan (SIPP) is a pension plan that allows individuals to make their own investment commitments. More simply put, SIPPS are essentially home-made pension plans. A SIPP works similarly to a personal pension plan but with heightened flexibility that gives investors more control to choose and manage their accounts. SIPPs are tremendously tax-efficient and both employers and spouses can pay into a SIPP. SIPPs offer a more pliable way to plan for your future. 

A SIPP allows investments in stocks and shares, investment trusts, insurance funds, commercial property, ground rents, open-ended investment companies, and more. 

How SIPP and Pension Transfers work

  1. Obtain CETV (Cash Equivalent Transfer Value) of your existing pensions (our advisors can help you with this even if you do not have policy numbers or even know where the pension is held).
  2. Complete an application to open a SIPP with a regulated Trustee.
  3. Trustee opens an account on preferred terms with an Offshore Investment Platform or Portfolio Bond. Depending on your circumstances your advisor will suggest the best solution.
  4. Transfer cash to new account.
  5. Discuss with your advisor a strategy based on factors such as risk appetite, investment time horizon income needs and tax planning.
  6. Select Underlying investments through a low cost Open Architecture Platform (Equities, Bonds, Funds, ETFs)
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Investment Selection

Whatever your risk tolerance & interests, your advisor will help you select the investments for your portfolio. Some examples include:

Blue Chip Funds with Household names - returns of over 50% in three years
Technology Funds
ESG (Ethical Social Governance) options
Direct Equities
Fixed Interest with strong capital guarantees and up to 8% per annum interest
Team members

Our SIPP advisors

Craig McAvinue

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Director of Wealth Management
Patrik Shore Tenzing Pacific Services

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Senior Advisor
Hunter Deems

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Senior Advisor
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Frequently Asked Questions about

SIPP and Pension Transfers

Much like an Individual Saving Account (ISA), or other equivalents, a SIPP offers an easy way to invest without being subjected to additional taxes but is of course subject to SIPP pension rules. SIPPs grow independent from income or capital gains taxes. As such, one can pay up to 100% of their yearly income into a SIPP, with the government matching a certain percentage of contributions. This is known as tax relief.

For example, if you contribute an investment of £2000, the government would provide 20%, £400 as tax relief. Taxpayers in higher-income brackets can claim higher tax relief as a percentage of their income, up to 45%. Consistent contributions to a SIPP is a great way to safely and efficiently plan for your future.
Self Invested Pension Plans (SIPPS) are an incredibly efficient way to save money and plan for you and your loved ones’ future. A SIPP comes with flexible investment options that are backed by government contributions that make them ideal for growing your finances steadily over time. But what happens if you need to withdraw your tax-free contributions early? Unfortunately, these will be subjected to SIPP withdrawal rules.

Extracting funds early will result in taxes at the pension holder’s marginal rate. Luckily, the first 25% of the money withdrawn from a SIPP can be removed tax-free. After that, any extracted money will be subject to taxation.
Tenzing is considered one of the best SIPP providers due to its low costs and international functionality. Our SIPPs provide you with a multitude of investment options including; investing in e-commerce and emerging market funds, global Blue Chip organizations, and many more.

With our SIPP option, you can invest in as little as $250 per month with term lengths ranging from between 5 and 20 years with little to extra charges, making Tenzing one of the best SIPP firms on the market.

Through Tenzing, you’ll have the flexibility to adjust your contributions, withdraw, or pause payments at any time. Contact an advisor and discover first hand why Tenzing is the best option for investing in your future with a SIPP.
Transferring your final salary pension can be an extremely stressful and trying decision. After all, pension plans give you guaranteed income throughout your retirement with all the bells and whistles attached. However, many retirees are opting to give up their pension rights in lieu of investing it as a lump sum into investment accounts for SIPPS.

So, should you transfer your final pension to a SIPP?

This decision is conclusively up to you. Consider investment goals, savings horizon, and both current and future financial obligations before committing. However, with the right investments, opting for a final pension transfer can without a doubt work to your advantage and put you on track for the future you desire.
A SIPP is a type of pension plan that you manage yourself. SIPPS can be added incrementally or through a lump sum. Others, including your employer, can also contribute to your SIPP, which is also subject to a government tax relief of 20%.

Through a SIPP’s tax relief, if you contribute £800 incrementally, the government would essentially top it up to £1000. Income earners that pay higher or additional tax rates will be topped up by the government and able to claim back more on their self-assessed tax returns.

The total tax relief will depend on your personal income.
Investing money through a SIPP is an easy and effective way to quickly save for your future, but what happens to your SIPP in the unfortunate event that you die?

The fate of your pension and investments will ultimately be up to you. When opening a SIPP you will be given an option to name beneficiaries to receive the value of your pension in the case of your passing. This can be spread across several beneficiaries as a lump sum or paid out through installments to provide the beneficiary with financial security over a long period of time. Inheritors who collect a pension from an account holder age 75 or younger will not be subjected to additional taxes, whereas marginal tax rates will be paid by the beneficiary if the account holder was over the age of 75 at the time of their death.
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    Patrik Shore Tenzing Pacific Services

    Patrik Shore

    Senior Advisor
    From Sweden & New Zealand
    7 years' insurance experience
    Joined Tenzing in 2019
    Crim Science
    Speaks English and Swedish

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