You can download literature and forms to set up a Premier Trust Full SIPP here.
The Premier Trust Full SIPP is our full SIPP product. A SIPP is a personal pension plan that enjoys all the tax benefits 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 and Literature sections.
Funding a SIPP
Our SIPP can accept contributions from the member’s employer, from the member personally, or from a third party. Clients are free to pay one-off contributions, set up regular contributions or pay them on an ad hoc basis.
Our SIPP can also accept transfers from other registered pension arrangements (either in cash or with ‘in specie’ elements). However, please not that you must receive advice from a financial adviser for transfers from occupational pension arrangements. We do not accept transfers from pension schemes that have safeguarded benefits (for example final salary or defined benefit schemes).
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) as well as more conventional equity based investments. Clients can invest in insurance company funds, use discretionary fund managers, wraps 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 here.
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.
You can download our Property Investment booklet here.
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.
More details on benefits can be found in our technical section, or you can download our Taking Benefits booklet here.
What are the fees?
The SIPP is very competitively priced with no set up fee and an annual fee of just £585 plus VAT per year. In addition, there are fee for specific events. There is a schedule of fees that covers all of the fees and costs associated with the product, which is available here.
Setting up a Premier Trust Full SIPP
The set-up documents are available for download here. Alternatively, we can email or post them to you.