Wednesday, August 17, 2005

Sipp guidance document

With an major in crease expected in the Sipp market following changes to the pensions regime through the implementation of A-Day in April next year, Legal & General has published a new guide for financial advisers.

The profile document provides a ‘back to basic’ guide on Self Invested Pension Plans (Sipps), outlining its historical background, along with assessments of the current Sipp rules and what will be allowed following A-Day, from tax advantages, to property investment both home and abroad.

L&Gcautions however, the industries current wait on further guidance notes from HM Revenue and Customs, with various details still under consultation.

Head of pensions technical services at the pensions firm Colin Batchelor says the latest Pensions Profile offering comes on the back of the increasing popularity of Sipps.

He says: “Starting with a comparison of current and post A-day rules, the guide covers all aspects of Sipps including a background and brief history, the mechanics of Sipps, property investment and borrowing.�

The Sipp guide is available on the L&G website and follows an announcement made last month by the firm to offer a deferred Sipp.


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