What is Trustee Investment Plan?

A Trustee Investment Plan is a pension policy which allows pension scheme trustees to invest in a wide range of funds with a straightforward and competitive charging structure. Our plan allows both single and regular premium investments, and flexible withdrawals up to 10% of the original investment.

How does a Trustee Investment Plan work?

The Trustee Investment Plan is a pension investment product. Through our Trustee Investment Plan, you can invest in one or a number of investment funds. These funds invest in different types of assets, which tend to fall into four main categories: Money Market, Fixed Interest, Property and Shares.

What is a trustee SIPP?

What is a SIPP trustee? A SIPP trustee is a person or organisation that holds assets in the trust for the beneficiaries of the account. They are charged with ensuring the scheme is run properly and that the account holder’s investments are secure.

What is a TIP in pensions?

A TIP is a single premium investment available to trustees of UK registered Occupational Pension Schemes and Self-Invested Personal Pension Schemes (SIPPs). The minimum initial investment into our TIP is £20,000. The maximum investment is normally £1,000,000 although we may accept higher amounts on request.

Is a SIPP a trust?

Most SIPPs are established under a trust, with the trustee company controlled by the operator. This flexibility gives the member control over how the pension fund is managed and is why SIPPs have become one of the most popular forms of pensions.

Do pension trustees get paid?

Trustees are among the lowest paid roles in pension scheme management despite increasing regulation and responsibilities, figures from PwC have shown. PwC found that schemes typically pay less for trustees than for actuarial and legal advisers, and in some instances less than for secretarial support.

Who can be a pension trustee?

Generally, anyone aged 18 years and over, and legally capable of holding property, is eligible to be a trustee.

Can I put my pension in a trust?

The trust receives a lump sum death benefit from the pension scheme and then the trustees administer it. However, payment by the trustees to the beneficiary comes with a reclaimable tax credit. So from an income tax point of view, it works out the same receiving it via a trust as it would be receiving it direct.

How do pensions work?

With a defined contribution pension scheme you pay in a percentage of your salary and your employer also contributes to it. The contributions are then invested by the pension provider. Your pre-determined retirement income is based on how long you’ve worked for your employer and your salary when you retire.

Can I ask my employer to pay into my SIPP?

Yes, they can. Employer contributions are paid gross, i.e. without tax being deducted first. Your employer can pay into your SIPP by cheque, Direct Debit or BACS. Each time your employer makes a single contribution to your SIPP, you’ll need to send us a completed SIPP additional contribution form.

Who is the best SIPP provider?

Top-rated SIPPs

• Close Brothers Asset Management. Best SIPP provider for: Those who want low cost but a wide choice of investments.
• Vanguard SIPP. Best SIPP provider for: People who want the lowest overall charges.
• Aviva SIPP. Best SIPP provider for: Customer experience.
• Barclays.
• ii SIPP.