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A self-invested personal pension (SIPP) is the name given to the type of UK government-approved personal pension scheme which allows individuals to make their own investment decisions from the full range of investments approved by HM Revenue and Customs (HMRC).
The state pension is based on years worked, with a 35-year work history yielding a pension of £203.85 per week. [1] It is linked to wage and price increases. Most employees and the self-employed are also enrolled in employer-subsidised and tax-efficient occupational and personal pensions which supplement this basic state-provided pension.
The two main sources of funds for PLF are Member-Directed Registered Pension Schemes, i.e. Self-Invested Personal Pensions (SIPP’s) and Small Self-Administered Schemes (SSAS’s). The schemes are typically devised by suitably-qualified and authorised financial advisers and implemented by experienced pension scheme administrators.
A personal pension scheme (PPS), sometimes called a personal pension plan (PPP), is a UK tax-privileged individual investment vehicle, with the primary purpose of building a capital sum to provide retirement benefits, although it will usually also provide death benefits.
A SEP IRA allows the self-employed to create a retirement plan for themselves as well as employees. This kind of plan offers a tax-deferred or tax-free way to save – on either a pre-tax or after ...
Small Self Administered Scheme (SSAS) is a type of UK Occupational Pension Scheme. Schemes are trust-based and established individually, usually by directors of limited companies [ 1 ] for specified employees of the company.
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Self-invested personal pension; T. Tax-exempt special savings account This page was last edited on 1 November 2014, at 07:26 (UTC). ...