Alliance Trust Savings has launched a webcast designed to help advisers understand the options for transferring in-specie assets into pension plans.
The firm says some advisers will still be unaware of the full extent of alternatives now open to them after pensions rules were relaxed in April 2006.
It says the industry saw a flurry of last-minute in-specie transfers of assets into SIPPs ahead of the introduction of the single capital gains tax rate of 18% in April this year.
Pensions development manager, Steve Latto, says: “Not all advisers are aware of the full extent of alternatives now open to them when they are considering in-specie contributions or transfers.
“The new rules do offer more freedom for this kind of transfer and this may be useful when an adviser wants to either protect an investment from any future income tax or CGT liability, obtain tax relief or generate additional cash outside a pension plan without selling an investment.”
In conjunction with the webcast, Alliance trust has also issued its latest pensions bulletin, setting out the alternatives open to advisers if they wish to carry out an in-specie transfer or contribution into a SIPP.
The bulletin also explains the differences among the three alternatives, which are sale and repurchase, in-specie transfer or contribution, as well as the advantages and disadvantages of each.
Latto says: “Since there are a number of options available to SIPP members who are looking to transfer investments that they own into their pension fund, advisers have a key role to play in ensuring that the most appropriate method is selected.
“A-Day has brought a greater range of alternatives and advisers need to advise clients of all the benefits, costs and risks associated with each choice they have.”
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