Individuals can now transfer relatively illiquid assets that could be better held in a Sipp, says Claire Court, head of self-administered pensions, Origen
The simplification rules introduced on 6 April have brought a number of changes, not only in how much can be contributed to pension funds in the future but also how they can be paid. This gives our clients new opportunities to be creative about how they fund their self-invested personal pension plan (Sipp) in the future. Contributions It is now possible for an individual to make a pension contribution equal to 100% of earnings. This is subject to an overall annual contribution limit (Annual Allowance) of £215,000 in 2006 rising to £255,000 by 2010. This limit is intended to be reviewed e...
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