City Trustees - part of Mattioli Woods



News and Media

18 November 2013

The pooling of SIPP funds

Spreading a commercial property purchase across multiple individual SIPPs can prove an administrative headache particularly in the future if one member dies, decides to leave or retires. In contrast, Pooled SIPP offers administrative simplicity with one scheme owning the property.

John Glover, Business Development Manager, commented:

"Pooling can negate the need for borrowing or indeed create a greater borrowing capacity".

The City Trustees Pooled SIPP can simply and efficiently facilitate the payment of leaver transfer values and retirement and death benefits. Liquid assets within the pool can be earmarked or used to fund these situations whilst other members share of the fund can remain in the form of the property. Pooled SIPP has access to the full range of HMRC permitted investments together with capped and flexible drawdown options.

"The Pooling of assets may also help business partners such as solicitors, accountants, architects, doctors and dentists to more simply and efficiently facilitate succession planning i.e. the exit of a retiring partner and the inclusion of a new business associate" added John.

The Pooled SIPP can link to most fund supermarkets, wrap platforms and DFMs for the cost efficient investment of rent and/or other non-property related investments.

In addition to the Pooled SIPP, there is the Family SIPP option. Operating under an individual trust, this is designed for members looking to access the advantages of the Pooled SIPP plus other potential benefits such as Scheme Pension.

Click here for further information on Pooled SIPP and Family SIPP. If you would like to discuss pooling ideas in more detail, please contact us on 0116 240 8730.

 

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City Trustees is a trading name of Mattioli Woods plc. For news updates on the Group, please visit our central News & Media on the Group website.