Self Invested Personal Pension (SIPP) - Account Overview

 

Barclays Stockbrokers SIPP – Your pension. Your way.

Barclays Stockbrokers Self Invested Personal Pension (SIPP) allows you to make your own pension decisions and to choose how, when and where to put your money. If you are comfortable making your own investment choices our wide range of investment products allows you to get the best out of your investment planning whilst maximising your tax benefits. Depending upon the markets the value of your investments can fall as well as rise. Your SIPP can either be your main vehicle for retirement planning, it can supplement other pension arrangements (perhaps sitting alongside a company pension scheme), or it can be the place you consolidate some or all of your different pension pots to make them easier to manage, it’s up to you.

 

Now more than ever you’re probably thinking about how to better plan your investments, how to secure your future and who you can really trust to manage your finances for you.

 

A Barclays Stockbrokers Pension (Self Invested Personal Pension – SIPP) puts you in control, but also gives you all the support you need to manage your investments the way you want.

 

• Barclays Stockbrokers five C’s of successful pension planning?

• CONTROL – you say when, how and what you invest in within your SIPP.

  • Control your investment options: with a SIPP, you have the freedom to select the product mix that reflects your investment strategy and risk profile and you have the flexibility of being able to change your investment mix at any time.
  • Control the tax you pay: once inside the SIPP, your pension grows free of income and capital gains tax. No tax is payable on interest (although dividends incur a 10% tax before being received and this cannot be reclaimed) or investment returns on assets held within a SIPP. You only pay tax once you start to draw an income. The value of the tax benefits offered by a SIPP depends on your individual circumstances and may be subject to change in the future.
  • Get tax relief on contributions - for the 2009/10 tax year the annual contribution allowance is £245,000 or 100% of your income, whichever is the lower amount. The lifetime allowance is currently £1.75m.
  • Turn £6,000 into £10,000 - if you earn between £51,275 and £150,000 you can get tax relief at your highest rate. See full worked example below.
  • Control your contributions: you decide how much to contribute and when. You can pay by direct debit, regular lump sum or one off payments, subject to the annual and lifetime limits, whatever suits you best.

  • CHOICE - with Barclays Stockbrokers, you have access to a wide range of products including shares, gilts, bonds, iShares, exchange traded commodities (ETCs), funds, Investment Notes, covered warrants and Turbos allowing you to chose the investments that are best for you. For example the more opportunistic trader could trade in individual stocks, bonds or leveraged instruments such as Turbos, while the trader with a more moderate profile could invest in bonds, track major equity indices, or invest in professionally managed funds.

   

  • CLARITY - invest in identifiable assets that you select yourself. Traditional pension funds can be opaque with little transparency on how your pension is invested and performing. With a Barclays Stockbrokers SIPP, you select your own investments and you can monitor your pension’s value online based on prevailing market prices.

   

  • COST - simple, competitive, low cost pricing.

    • online dealing from only £6.95 to £12.95 or deal on the telephone, our agents are on hand to assist.
    • competitive annual administration fee, paid quarterly.
    • no set up fee or other hidden extras. See full rates

    • CONVENIENCE – you can hold a SIPP alongside other pensions including your current company pension and build an additional savings pot for your retirement. Alternatively, you can bring all your pensions (including Protected Rights) together into the same SIPP, enabling you see how your whole pension portfolio is performing and giving you the flexibility to adapt your investment decisions quickly and easily (bearing in mind that not all of your pensions may be suitable to consolidate and you should seek independent financial advice before doing so.

     

    • With a Barclays Stockbrokers pension you have all the tools and support you need including our range of advanced trading tools, educational materials and Barclays Wealth research including our flagship publication, Signpost.

     

    • If you earn or have earned £150,000 in any tax year since 2007 you are affected by the changes in the 2009 Budget. Find out more about the decisions from the 2009 Budget in our review

Our SIPP is offered on an execution-only basis without pension and investment advice. The SIPP and/or the investment services described may not be suitable for you. If you have any doubts about the suitability of the SIPP or you need advice, including tax advice, you should consult a suitably qualified financial adviser. Remember that the value of investments can fall as well as rise.

 

• Worked Example: Sample rebates on a £10,000 contribution to a SIPP

• Turn £6,000 into £10,000 - If you pay 40% tax on at least £10,000 of your annual income and you do not earn more than £150,000 then this applies to you.
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• You pay £8,000 into your SIPP, a tax rebate of £2,000 will be received into the SIPP, so the amount contributed to your pension now totals £10,000. At the end of the tax year, you can then reclaim a further £2,000 rebate through your tax return – this £2,000 is sent to you directly by the Inland Revenue, it is therefore cash in your pocket. So the effective cost of a £10,000 investment into your SIPP is only £6,000. That’s an immediate 66% uplift before you have even made an investment decision!
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The value of tax benefits depend on individual circumstances and the rules governing them can change.

Your SIPP can be as simple or as complex as you want it to be.
It really is - Your pension. Your way.

 

Did you know that you can contribute to a SIPP for someone else?
Up to £3,600 gross can be invested in a SIPP each year on behalf of anyone who is resident in the UK, regardless of whether or not they have earnings or are a taxpayer. Therefore you can contribute up to £2,880 a year to a SIPP for your spouse, partner, child, grandchild, godchild - or in fact anyone else - and it will be grossed up by basic rate tax relief within the SIPP (to up to £3,600).
Find out more about contributing to a SIPP for others

 

Get your SIPP questions answered

Telephone one of our SIPP specialists on 0800 068 6688† or request a call back.

If you want to know more about the benefits of pensions or want help to understand your existing pension arrangements, take a look at our Retirement Planning Centre

 

Learn more about SIPPs with our online seminar

Find out more in our new Retirement Planning Centre