What is a SIPP?
A SIPP (Self Invested Personal Pension) gives you more choice and control over where you can invest your money.
While most traditional pensions limit investment choice to a short list of funds, normally run by the pension company's own fund managers, a SIPP allows you to invest pretty much where you like.
You can choose from thousands of funds run by top managers including Artemis, Fidelity, and Invesco Perpetual as well as pick individual shares, bonds, gilts, investment trusts, exchange traded funds and cash.
There are significant tax benefits. The government contributes 20% of every gross contribution you pay - meaning a £1,000 investment in your SIPP costs you just £800. If you're a higher rate tax payer, the tax benefits could be even greater. In the above example you could claim back as much as a further £200 via your tax return.
When you wish to withdraw the funds from your SIPP, between the ages of 55 and 75 (50 and 75 before 6 April 2010), you can normally take up to 25% of your fund as a tax free lump sum. The remainder is then used to provide you with a taxable income.
Thank you for the swift and efficient way you have handled our SIPP applications. As always, your forms are straightforward and your service exemplary.
Mr & Mrs Longcroft, HampshireStarting a SIPP couldn't be simpler and the Hargreaves Lansdown Vantage SIPP gives you the flexibility to invest lump sum amounts whenever you wish or set up a monthly direct debit which you can change at any time. We've made applying for a SIPP so simple that it shouldn't take you more than 10 minutes to complete once you have read all the information.
How to apply
Applying for a Vantage SIPP should take you no more than 10 minutes.
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