More detailed information about what can and cannot be done in a SIPP can be found in our Technical pages.
If you would like to download our literature to set up a Premier Trust SIPP with us then please go to our Literature pages.
A self invested personal pension (or SIPP) is a registered personal pension scheme which offers many more investment opportunities than a traditional personal pension scheme. A SIPP offers very flexible funding arrangements as well as the widest possible range of retirement options.
These features have led to a rapid growth in the SIPP market, and SIPPs are now the product of choice for people looking for flexbility and control in their retirement planning.
Our SIPP (the Premier Trust) has been designed to be a highly versatile product, which takes full advantage of all of the opportunities presented by the legislation. We offer our clients exceptional service at a competitive price.
A SIPP is a personal pension plan that enjoys all the tax efficiencies of a registered pension scheme. It is established in your name independently of any employer (although an employer may contribute to it). It has much wider investment opportunities than standard personal pensions.
You can join our SIPP at any age. You can join the SIPP even if you are a member of your employer’s company pension scheme and you can contribute to both schemes.
This page gives you basic information about what a SIPP is and how we operate our SIPP. You can find more details about the rules governing pension schemes in our Technical section.
You can set up a SIPP by completing and sending to us the following:
1. Application Form - This form gives us the information that we need to set up your SIPP on our systems.
2. Bank Mandate - Each SIPP has its own Plan Bank Account. You are a joint signatory on your account which means that we can not move any funds without your express instruction.
3. Identity Verification Certificate - To set up your SIPP, we must identify you. You can send us original documents or ask your financial adviser to complete our Identity Verification Certificate to certify that they have seen the necessary documents.
You can download the forms in our literature section or you can contact us and we will send you hard copies. However, please note that a SIPP is a complicated financial product and it is essential that you read our Key Features and Charges and seek financial advice from a regulated Financial Adviser to make sure that it is the right product for you.
Our SIPP can accept contributions from the member's employer and from the member personally. Clients are free to pay one-off contributions, set up regular contributions or pay them on an ad hoc basis. We can also accept contributions that are paid 'in specie' (ie not as cash, but in the form of equities or property for example).
Our SIPP can also accept transfers from other registered pension arrangements (again either in cash or with 'in specie' elements), including transfers of 'protected rights' (ie funds representing contracted-out rights from the State Second Pension and SERPS).
All payments into your Plan are credited to your Plan Bank Account.
Once the funds have been received, they are available for the members to invest as they decide. Our clients benefit from a wide range of investment options, including commercial property and land (which can be leased back to their business) and unlisted shares as well as more conventional equity based investments. Clients can invest in insurance company funds, use discretionary fund managers, fund supermarkets or platforms, as well as invest in shares on an execution only basis. A complete list of permitted investments can be found in our Technical section.
Even though a SIPP is a single person arrangement, properties and other investments can be purchased jointly by more than one SIPP.
As the trustee of the SIPP, we are a party to all such transactions and co-owner of all scheme assets with the member.
Members can generally take benefits at any time from age 55. There is no maximum age by which benefits must be taken. They are entitled to a lump sum payment (the pension commencement lump sum), which is tax free and a pension. The pension can be drawn from the scheme, or the member can purchase an annuity to pay their pension.
Members also have the option to take their benefits in stages through partial or phased drawdown.
DP Pensions Ltd has teamed up with Brooks Macdonald Asset Management Ltd, who are a specialist investment subsidiary of Brooks Macdonald Group plc, the wealth management group that has been listed on AIM since March 2005.
Partnering with them to provide a SIPP offering, in which the assets are invested via the Brooks Macdonald Managed Portfolio Service, was a natural fit.
The combined DP Pensions Ltd and Brooks Macdonald SIPP, The BM Premier Trust SIPP, has been designed for clients with funds from £20,000 making it within reach of the majority of clients who are saving for their retirement. A transparent cost structure, expert investment management from Brooks Macdonald Asset Management Ltd and the security of knowing that DP Pensions Ltd will continually monitor any changes in relevant legislation makes this competitive SIPP an attractive proposition.
DP Pensions Ltd role in the partnership is to provide the supporting administrative framework as well as guidance on legislative issues so that clients can gain the maximum benefit from their SIPP. Brooks Macdonald is the investment manager and will direct the investment decisions on the account.
Each client has their own DP Pensions Ltd contact who will deal with the administration of their scheme. Clients and their advisers have direct access to their administrator including their direct dial phone number and e-mail address.
Other features include:
•a discounted annual fee that covers both the SIPP administration and investment management
•online access to daily updated fund values, inc all transactions
•acceptance of transfers of protected rights and additional lump sums
•simple and clear documentation which is easy to understand
•Brooks Macdonald Asset Management’s best execution policy
•six monthly valuations and transaction statements
•an annual pension statement which will include the fund value and a benefit projection
Downloadable literature to set up a BM Premier Trust SIPP can be found in our Literature pages.