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If you die, your SIPP benefits will be paid to your beneficiaries – either as a lump sum or an ongoing pension. You’ll need to complete a nomination form declaring who you want the payments to go to. These are paid at the discretion of AJ Bell Management Limited, the Scheme Administrator of your SIPP.
The tax treatment of any death benefits paid from your SIPP will depend on your circumstances.
Learn Change and Adapt ?????
I also found this interesting as it compares a SSAS to a SIPP.
Not a recommendation, just an observation!
How long have you been with AJ Bell. How are they as I'm thinking of using them.
I don’t use them personally I just look on the internet for info and they have some good stuff
I have used AJ Bell for about 7 years, they seem fine, they just encash a small amount every qtr to pay their managemet fee.
My IFA recommends AJ Bell for clients with straight forward criteria and small investment pots as a more cost effective way, saves him charging them a fee. He actually turns down business if under 100k pot and steers them towards AJ Bell.
Graham provides an informative overview of pensions in this interview starting at 4:40.
It’s all good stuff I met my IFA to review my company pension I’m investing via my company as much as I can the money I would have saved for a deposit to buy a BTL Property now goes straight into my company pension it’s all tax free and the things you can now do with pension funds are fantastic
its like haveing an offshore company with non of the fuss
it’s a winner
And of course doing what you are doing is depriving the Treasury of further tax receipts.
I have no doubt that were it not for S24 and the SDLT surcharge you would be continuing to actively invest in rental property with all the attendant GDP that promotes to say nothing of the additional tax receipts from all the workers in such a continuing investment strategy.
Now all you are doing apart from your BTR thing is chucking as much money into your own very selfish pension plan which benefits only YOU!
Before your largesse was spread around the economy and many people benefited from your investment activity.
Osborne has just made you extremely selfish and who can blame for not wanting to pay S24 taxes!!?
His actions have forced you to invest in pensions rather than pay S24 taxes.
You were so lucky in having very little CG to prevent you going corporate.
I do wonder how many LL will cope with S24 and rising IR?
its odd you have said the above I said the very same thing to my tax advisor this morning
i have been diverted iinto other areas of business due to taxation
it comes down to this fact I can salt away 40k a year in to a pension and my company pays a tiny bit of Corp tax
the money I would have used to build deposits is now tax free and ring fenced
I hate what the government has done to my plans
and this is the only way I can avoid more tax
do I wish to buy a three bed ex council house when I can make the same return sitting at home pressing a few buttons
and waiting for the next attacks on BTL