Other Types of Pensions

In recent years the pensions industry has become more advanced in terms of the flexibility of investments available and the structure of the actual pension arrangements.

This is an area of constant change and we recommend regularly reviewing your pension provision to plan for a secure and enjoyable retirement.

Self-Invested Personal Pensions (SIPPs)

A Self-Invested Personal Pension (SIPP) is a tax-efficient wrapper within which a wide range of investments can be held. SIPPs have the same tax benefits and regulations as conventional personal pension plans but have control over the investment choice – each SIPP is unique to the individual. Otherwise, it operates in the same way as a conventional personal pension in respect of contributions and eligibility, for tax purposes. A SIPP must appoint a scheme administrator, usually the recognised product provider.

The complex nature of a SIPP means that it is not suitable for all investors. Often, the benefits of ‘self-investment’ are only advantageous to people with very large funds and/or investors with some level of sophistication when it comes to investment decisions. Often, there are additional charges for arranging and dealing within a SIPP and these charges would erode smaller funds quickly.

The benefits of using a SIPP include being able to invest in:

  • Stocks and shares listed or dealt on an Inland Revenue recognised stock exchange, including AIM
  • Stock exchanges that are not recognised by HMRC
  • Unit trusts, Open Ended Investment Companies (OEICs)
  • Warrants, covered warrants
  • Government stock and fixed interest stock
  • Unquoted shares
  • Commercial property
  • Property funds.

We will be able to provide more details and make a recommendation based on your circumstances.

Pensions are a long-term investment. You may get back less than you put in. Pensions can be and are subject to tax and regulatory change, therefore the tax treatment of pension benefits can and may change in the future.

What our clients say about us

“Colin Henshaw has been our financial advisor for more than 15 years, so he knows us and our financial needs in great detail.  We consider him a friend too.  When he started Berry Wealth Management we were eager to have him continue in this role.  At Berry Wealth Management, Colin has assembled a superb team of people with great financial acumen, professionalism and compassion.  They take their time to get you know you, your family, your financial needs and worries. Their financial advice has been stellar, furthermore, it is great to see that the company is investing in a secure financial IT infrastructure, so that now I can access the team securely via my own personal financial portal.  This portal allows us to send and receive financial documentation securely from the comfort of our home.  This has been a boon during the COVID pandemic.  Hand on heart, we can sincerely recommend Berry Wealth Management.”

~ Paul Donnelly

 

“My relationship with Berry Wealth Management – approaching and post my retirement – has proved to be extremely positive and highly productive in pursuit of my financial goals. The Berry team are utterly professional, reliable and trustworthy. Their financial awareness and judgement is always impressive ; their research on my behalf has been forensic, and their selection, performance tracking and management of investment organisations is consistently thorough and extremely demanding. I am delighted that I engaged their services.”

~ Michael & Catherine Furlong

 

“I have been very pleased with the level of knowledge and experience of Berry Wealth Management. They take the time to really get to know their clients, which gives me every confidence that my financial goals are understood. They regularly provide updates, and have always been available to answer any questions or to explain options within my portfolio. Transitioning into retirement has been much more comfortable thanks to their help and guidance.”

~ David Leaney

 

“We have been advised by Colin for the past nine years. During this time, we have been extremely pleased with the indepth advice. The frequent reviews have helped us make some excellent, well-informed financial decisions. Colin has always attached an excellent element of professional tax-efficient advice coupled with caution that has comforted us in many ways. We wish that we had met Colin earlier, as we would have enjoyed more longevity of first-class financial planning advice.”

~ Keith & Joanne Hobbs

 

“Colin has been our financial adviser for nearly two decades, he has always offered a consultative approach to financial advice, and this has most definitely enabled Elizabeth and I to retire earlier. Colin also has a good selection of contacts for other areas where advice might be required, and having a trusted source for such recommendations has been invaluable. I do not like the larger companies’ impersonal approach and feel we are valued customers of Berry Wealth Management.”

~ David & Elizabeth Donnelly