workplace SIPP.

what can workplace self invested personal pensions (SIPPs) do for your company?

Self Invested Personal Pensions (SIPPs) are a cost-effective way of providing a benefit for employees within a flexible package. SIPPs offer employees investment choice, diversification potential and flexibility, including retirement options. For employers there are cost savings, protection, and limited effort since there are no trustee or administration responsibilities.


The Workplace SIPP benefits:

  • is free to set-up and has, no annual administration charge
  • offers  a full range of investment options
  • accepts both employee and employer contributions on either an individual or group basis
  • accepts in specie transfers of shares from your company share schemes
  • accepts transfers from legacy pension schemes including protected rights funds
  • is available on an advised or non-advised basis
  • is suitable for bulk pension transfers

Our SIPP is designed specifically for the workplace in that it is trust-based and can operate alongside existing company schemes , or as a replacement to existing schemes.

It provides access to a wide range of investments including shares, collective investments and fixed interest investments, which means we can offer:

  • Defined benefit style portfolios run on a discretionary basis
  • Defined contribution style funds for employee selection
  • Stock holding services
  • In specie transfers of shares from your company share schemes

The Workplace SIPP is available via:

  • Face-to-face advice where we manage portfolios on a discretionary basis
  • Online, where employees self select their investments and are thus non-advised


At WEALTH at Work we provide a consistent investment approach which allows tailored portfolios to be set-up which meet your employee’s needs.

 
 

benefits for employees.

  • Flexibility. Employees can contribute up to 100% of relevant earnings, or their equivalent, whereas some occupational schemes limit contributions. There are no restrictions as to the type of contribution and so it is the perfect vehicle for in specie transfers of company stock such as from Save As You Earn (SAYE) or Self Invested Pension (SIP) and salary or bonus sacrifice.
  • Consolidation. Legacy pensions including protected rights funds can be transferred into the Workplace SIPP which means employees can hold all their pensions ‘under one roof’. This removes the need to trace what could be numerous lost pensions when employees approach retirement and are unsure of how large their consolidated fund is. It also ensures that their total pension fund is managed and reviewed on an ongoing basis.
  • Diversification. Employees can self-invest using our online Self Select service. We also offer the ability to retain and purchase company stock. This enables employees to invest stock they hold in their present employers into their pension.
  • Impartial advice on an individual basis for offline investors. If your employees have £20,000 or more to invest or transfer (such as from maturing share schemes and legacy pensions), our UK-wide team of qualified Strategic Investment Planners can be employed to look at their individual circumstances in more detail.

when is a workplace SIPP suitable?

  • To complement existing Defined Benefit (DB)  and/or Defined Contribution (DC) schemes
  • To offer as an alternative to:
    • A DB scheme if you are winding up, or ceasing further accrual in the scheme
    • A Group Money Purchase DC Scheme
    • An AVC scheme
    • A Group Personal Pension  (GPP)

bulk pension transfer.

A bulk pension transfer is where a block of members moves from one pension scheme to another in one transaction. This could be the whole scheme membership or a part of it. As the Workplace SIPP has been set-up to replicate occupational schemes as much as possible, it is a suitable alternative if you are considering bulk pension transfer and we can advise your members on an individual basis.