What is a Group SIPP?

  • A Group SIPP (Self Invested Personal Pension) is a number of SIPPs linked together by way of employment.
  • It does everything a GPP (Group Personal Pension) does, but a lot more as well
    • Investment choices for your staff are much greater
    • They benefit from much more flexibility
    • Members can jointly invest in assets including commercial property
    • Cost is very competitive in comparison to  a GPP or Group Stakeholder scheme

Investments Flexibility

  • Your company or staff can decide which pension funds or investments are suitable
  • You don’t have insurance companies dictating to you where your money is invested
  • The Brooklands SIPP generally accepts all Inland Revenue non-taxable investments
    • This is all investments allowed by Personal Pensions plus:
      • Equities, Unit Trusts and similar investments
      • Property Funds
      • Commercial Property and Land in the UK
      • Apartment Hotel Rooms
      • Commercial Property
      • Property purchases can be in the UK & Abroad
  • The Brooklands SIPP can accept the transfer in of Protected Rights
    • These funds can be used for self investment
  • Giving flexibility and investment choice to your staff will aid in recruitment and retention

Retirement Flexibility and Tax-Efficiency

  • SIPPs allow you huge flexibility in retirement
    • You choose how you take income when you retire
    • Annuities need not be purchased; you can choose Income Drawdown
    • You can retire, take tax free cash, and draw an income from your pension
    • If you wish, you may be able to draw a zero income to leave more in your pension
    • On your death the remaining pension funds can usually go to your children
  • When you reach 50 (if it is before April 2010) or 55, 25% tax-free cash can be taken from your SIPP
    • An annuity does not have to be purchased at the time
    • You can delay buying an annuity
    • You can take no income from the pension fund each year, if you wish
      • So you can take tax free cash without drawing an income
      • Or you can draw quite a high income if you want to
      • You can decide each year how much income you take within limits
  • Pension funds can be left to family in the event of death.
    • Pensions do not need to ‘die’ when the pensioner does.
    • If you die before 75 the pension funds can pass to your nominated beneficiaries
    • A tax charge of only 35% would be payable on death

Notes for IFAs

  • SIPPs are provided by Brooklands Trustees Ltd which is a self invested pension’s administration company and is authorised and regulated by the Financial Services Authority (FSA).
  • The company or staff will decide on the investments with the Financial Adviser and will have the added flexibility of the investment choices available to SIPPs.
  • We provide a flexible investment choice within HM Revenue and Customs (HMRC) Regulations with minimal ‘in house’ rules.
  • The fees for a Company Group SIPP will be on a case by case basis but generally depends on the numbers of members and the average fund size. The Group SIPP may cost no more than a GPP or Group Stakeholder.
  • Unlike Group SIPPs from Insurance Companies the Brooklands Group SIPP has no requirement for any of the funds to be invested in Insured, or any other funds. We take no commissions from any investments or bank accounts. The IFA has complete flexibility with the Client to decide where the funds are invested.
  • Full marketing and technical data will be sent to you when you enquire.