News from the IPS Partnership
Friday 27 November 2009
The IPS Partnership launches The IPS Family SIPP
The IPS Partnership, the leading SIPP and SSAS provider, with offices in Bristol, London and Manchester has launched a Family SIPP. The IPS Family SIPP is a stand alone personal pension scheme established under its own trust and is designed to pay Scheme Pension.
In an increasingly uncertain world, the option of Scheme Pension is becoming ever more popular as a method for controlling the level of pension drawn from a retirement fund and has the objective of using the accumulated fund to pay pension benefits rather than facing an eventual assessment for tax.
The IPS Family SIPP also offers all the investment flexibility and other retirement and death benefit options associated with SIPPs.
There are no restrictions on the number of members and members can choose to act as Trustees. Members’ funds can be invested individually or pooled to follow a common investment strategy. The IPS Family SIPP can also accept transfers of Protected Rights.
The IPS Family SIPP is ideal for families, grandparents, parents and grandchildren can all be members and the fund can be invested under a common family strategy. Scheme Pension can be paid to the senior members and funds can accumulate for the younger ones in a number of ways.
The IPS Family SIPP is also ideal for groups of business partners who wish to pool their pension funds to pursue a common investment strategy, for example buying commercial property or private equity.
Commenting on the launch, Richard Mattison, Business Development Director at IPS said:
"There is a very real demand for this type of product which has been growing over the last couple of years and we now feel the time is right to enter the marketplace. Scheme Pension is becoming a popular option for drawing an income from a pension fund. We have listened to what our introducing IFAs have said to us and we feel we have put together a product combining all the best features that Family SIPP customers will require."
Graeme Bone, Senior Independent Financial Consultant, Beacon Asset Management, added:
"The IPS Family SIPP offers significant extra flexibility for clients looking to utilise their pension fund more innovatively, perhaps between a group of connected members for building up their investments and through the Scheme Pension in retirement,
"The market has been waiting for such a solution to the current challenges faced by clients in today's retirement planning landscape. This is very important for many of our clients who are directors of small to mid-sized companies, often with substantial sums that they would like to try to protect for their spouses, children and grandchildren."