The Alltrust SIPP is a Self Invested Personal Pension that allows considerable flexibility in both investment options and retirement planning. Given the complexities associated with these types of pension scheme, we normally only deal with clients through their appointed Professional Financial Adviser rather than on a direct basis.
We offer two types of SIPP:
A SIPP is a pension scheme and therefore a primary means of saving for retirement. Monies are put into the SIPP where they are invested in a variety of assets. The value of your SIPP, or the relevant part of it, at the time you choose to take benefits (currently from age 55 (changing to 57 in April 2028)) will determine the amount of income and/or tax-free cash available to you. Alternatively, you may choose to take the full amount as a lump sum; however, only the first 25% is tax-free. The remaining 75% will be taxed at your marginal rate, and the tax must be deducted before the funds are paid out.
The individual who is a member of the SIPP is able to decide what investments to make. SIPPs allow for a considerable number of different types of asset to be held, and the member must choose where they wish to place their funds. This is usually in conjunction with a Professional Financial Adviser. Please note Alltrust does not provide advice and cannot recommend where you should invest your SIPP.
A SIPP can be funded by making contributions to it (which gives the individual tax relief at their marginal rate), or by transferring assets from existing registered pension arrangements into it.
A SIPP has considerable flexibility in relation to drawing retirement benefits. We have already mentioned the payment of a tax free cash sum and a regular income but the scheme also gives the individual member the ability to vary the income being received in terms of the amount drawn, and the frequency of payment. Provision can be made to pay spouses or partners, and other financial dependants and beneficiaries, some or all of the pension fund in the event of an individual’s death.
Broadly, the aims of a SIPP are as follows:
Requests for an alternative provider can be considered on a case-by-case basis by submitting your rationale to newbusiness@alltrust.co.uk
There is usually no commitment on your part to make any contributions, or to continue making contributions once you start. Contributions can usually be started or stopped at any point.
A SIPP is a long-term arrangement. Benefits can only be drawn from the SIPP in accordance with legislation that prevails at the time. Currently, benefits can generally only be drawn from age 55 (age 57 from 6 April 2028), unless you retire due to ill-health, or have a protected early retirement age.
Fees are chargeable in relation to the administration of the SIPP and are in addition to those of any investment or financial adviser. These fees are normally paid from the fund.
When you take pension income from the SIPP the level of income that you take is currently determined by HM Revenue & Custom limits. Income is also taxed under the PAYE scheme.
As part of our contractual relationships with our banking providers, Alltrust may be paid an amount of interest in addition to the interest received on the account. The interest we receive will be dependent on the total balances that we hold with each bank.
Please request additional documents using the email address in the “Get In Touch” section below.
Our Team are Here to Assist You – We are highly knowledgeable and experienced in all aspects of our products and services.
01722 705705
hello@alltrust.co.uk
Please take a moment to read This Important Update on recent developments in Inheritance Tax planning, and what these changes mean for you and your clients’ pension arrangements.
⚠️Impersonation of Alltrust Services Ltd ⚠️
We are aware of a scam involving individuals impersonating Alltrust SIPP Ltd. Please note that we have not changed our contact details or phone numbers.
If you have any concerns about the legitimacy of a communication, do not act on it. Instead, contact us directly:
– Email: hello@alltrust.co.uk
– Phone: 02920 772970
Stay informed and protect yourself. Learn more about scam awareness at https://www.fca.org.uk/scamsmart.
