An Introduction to SIPPs and Retirement Options
for all those new to the field
An ideal introduction to the
SIPPs World and what it is all about
– IN JUST ONE DAY

Chairman

John Moret
Director of Sales and Marketing
Suffolk Life

Speakers

Nick Bamford
Chartered Financial Planner
Joint Managing Director Informed Choice Ltd

Simon Collins
Managing Director
Retail Division
Resources Compliance

Robin Ellison
Head of Strategic Development, Pensions
Pinsent Masons

Anthony Filbin
Managing Director – Corporate Wealth
Legal & General Assurance Society

David McLaughlin
Property Acquisitions Manager
Suffolk Life

Iain Naismith
Head of Pensions Market Development
Scottish Widows

 

Matters to be covered include:

An introduction to the New Simplified Pensions World
• Background to pensions in the UK
- political influences
- legislative history
- taxation
- state scheme changes
- different types of pension scheme
- pensions simplification
• Legal framework
- trust law
- trustee liabilities
- pensions and contract
- employment law
• Occupational/employer schemes
- defined benefit schemes
- entry conditions
- leaving service
- transfers
- retirement and other benefits
- funding issues
- surpluses and winding up issues
- mergers and acquisitions
- investment issues
- defined contribution schemes
- different types of scheme including group personal pensions
- scheme design
- benefit options
- investment options
- other issues
- stakeholder pensions
- hybrid schemes
- pension accounts
- pensions and divorce
- European law
- the role of DWP and the Treasury
- ombudsmen and dispute resolution
- future state scheme provision and contracting-out

Where SIPPs fit in
• Historic development
• Legal framework
• Different types of individual pension
• Pensions simplification and A-day
• The new contribution rules
• Investments

The Different Types of SIPP and their Pros and Cons
• Parties involved
• The need for advice
• Operational issues
• Different types of investments
• Charges
• Where SSASs and family trusts fit in

The Regulation of SIPPs and its Implications
• The regulatory journey so far and lessons learnt
- Conduct of Business
- systems and controls
- MiFID
• Identifying SIPP risks going forward
- corporate governance
- management and culture
- treating customers fairly
• The HOT regulatory issues to be aware of
- demonstrating you know your client
- are SIPPs always suitable?
- communicating fairly and clearly
- competency of staff
- consistency of approach to advice

Why SIPPs have become so Popular – An Adviser Perspective
• Conventional personal pensions vs SIPPs
• Why clients want SIPPs
• Moving from a conventional personal pension to a SIPP– price vs value
• Investing a pension fund – how to do it
• A case study

SIPPs and Commercial Property
• Potential property investments for SIPPs
- what?
- commercial property
- residential property
- where?
- UK and elsewhere. Foreign property – drawbacks
• Deal breakers – due diligence and others
- why invest in a property through a SIPP
- disadvantages
- fees
- loss of complete sovereignty
- advantages
- tax, tax and tax
- solvency
• Finance and Borrowing
- rules
- liquidity
• Groups
- equal or not?
- importance of agreement
• Property Purchase
- example
- purchase from investor
- part purchase of property
• Leases
- contents
- problems e.g Common Parts
• Miscellaneous
- SDLT
- VAT
- costs
- professionals
- disbursements

The Options ‘At Retirement’
• Benefit crystallisation events
• Background to annuities and the alternatives
• Unsecured income, alternatively secured pensions, phasing and other options
• Transfers
• Death benefits
• Other issues

The Group SIPP Market
• The Role of Group SIPP in Employee Benefit Strategy
• Role of the Adviser – at which point is advice needed?
• Designing appropriate investment options
• What is the target market?
• Ensuring the TCF principal is at the heart of the proposition

Looking to the Future
• The continuing growth in SIPPs
• Relationship to other pensions savings vehicles
• The role of advice in the new pensions