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Self Invested Personal Pension

 

 

WHAT IS THE ITC SIPP?


The ITC Self Invested Personal Pension is a completely flexible, cost effective personal pension plan brought to you by Independent Trustee Company Ltd (ITC). Now you can have a personal pension plan that truly puts you, the investor, in control. You can take control of both the investments and costs associated with your pension fund.

The ITC SIPP offers you access to a wide range of investment options, you can effectively invest your pension funds in the manner best suited to your requirements, e.g. cash, property, equities. The ITC SIPP lets you decide the most appropriate level of risk and split of asset within your retirement portfolio.


THE ITC SIPP OFFERS YOU:

CONTROL
You have complete control over the assets your pension fund is invested in. When you have control over the assets within your pension fund you also get control over the level of risk you want to take with your pension assets. You have control over the levels of contributions made to your pension plan.

TRANSPARENCY
The charges associated with the ITC SIPP are completely transparent. You will know at all times exactly what your pension plan is costing you.

INVESTMENT CONTROL
With the ITC SIPP you can invest your pension funds in the manner you feel is most appropriate to your investment strategy. You can create your own investment portfolio for your retirement.

RISK CONTROL
As you will be controlling the assets that your pension plan will invest in you will also control the level of risk your portfolio is set at.

You will have the option to invest in low risk investments, e.g. cash, government stocks, or in higher risk investments such as specialist/sectoral
equities, e.g. China. Ideally you will achieve a spread of your investment across a number of asset classes and investment managers to provide you with a well diversified portfolio.

CONTRIBUTION CONTROL
The ITC SIPP is being established as a recurring single premium product. This means that you make an initial lump sum contribution and you can, if you so wish, make additional lump sum contributions in the future.

HOW MUCH CAN I CONTRIBUTE TO THE ITC SIPP?


There is no maximum limit on the amount that can be contributed to a personal pension plan. However an earnings cap applies under tax law and as such there are restrictions as to the level of income tax relief on contributions to a personal pension plan.

CAN I TRANSFER MY EXISTING PENSION?


The ITC SIPP can facilitate transfers from existing personal pension plans. However you should ensure you are fully aware of any charges that may be levied on early surrender from other pension contracts and also be aware of the impact on any additional benefits that may exist under such contracts (e.g. life cover, Permanent Health Insurance).

WHAT HAPPENS AT RETIREMENT?


At retirement (any age between 60 and 75) up to 25% of the value of your pension fund can be taken in the form of a tax free lump sum. You have a choice as to how to invest the remainder of your pension fund:

  • Purchase an annuity, i.e. an annual income for life
  • Invest in an Approved Retirement Fund (ARF) subject to certain conditions
  • Take the value of the fund in the form of a cash benefit and pay income tax

For further information please contact your financial advisor  to discuss the suitability of the ITC SIPP for your retirement provision needs.

 

  
 
   
  The information on this website is supplied as a general guide only. Independent Trustee Company Limited accepts no responsibility for any errors or omissions. In all cases independent financial and legal advice should be obtained.
Registered Office: Independent Trustee Company Ltd., Harmony Court, Harmony Row, Dublin 2, Ireland.