| | | Sipps Pensions - Sipp Pension GuideSipps Pensions or Self Invested Personal Pensions to give them their full name have been around for a while but from April 6th 2006 there are large sweeping changes being made by the Government which will result in only one set of investment standards for all pension schemes. The rules that currently apply to SIPPS pensions will no longer apply after April 6th 2006 (A-Day). It is hoped that after A-Day the whole system will be far easier and flexible. The new pension laws will also give people the opportunity to invest in a far broader range of assets. One of the biggest changes to take place is the regulation surrounding Residential property both in the UK and abroad. From A-Day you will be able to invest in property both at home and abroad under the umbrella of your Sipp Pension. You will also be able to use the value of your fund to borrow money for these purchases. From A-Day you will be allowed to invest your Sipps Pension Fund into:
It is estimated that by the year 2010 up to five million people will have a Self Investment Personal Pension Scheme as the Government moves to make this form of pension planning more mainstream. For many people the changes to Sipps Pensions are a dream come true. The new schemes will allow you to truly take control of your own pension planning, as you do not need to employ the services of pension fund managers who have not performed well over the last few years. |
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