For the individual: ProsperSIPP
Self-Invested Personal Pensions are personal pensions in which the individual can exercise substantial control over the choice of investments held. Individuals can manage their own investment portfolio or appoint an Investment Manager to do the work for them.
Investments can be made in commercial property, stocks and shares and unit trusts to name but a few.
The plan enjoys the usual benefits of a pension scheme. It is not necessary to retire before taking benefits at any time between the age of 55-75 and benefits can be taken in stages offering a flexible tax-efficient way of saving for retirement.
- Choose the level and frequency of your pension contributions
- No Annuity purchase necessary in order to receive an income
- Take up to 25% of their fund value as tax-free cash
- Choose when to draw income and the amount
- Transfer in funds from other pension plans