Getting maximum benefit for Sipp holders

pensions

Though Sipp holders have the ideal pension to take advantage of the simplified regime after 6 April 2006, they need to take further steps to get the maximum benefit.

What do existing Sipp members need to do as A-Day approaches? They are already in the fortunate position of having an ideal pension arrangement to take advantage of the new regime, but how can they improve their position further? There are two main areas in the changes where Sipp members may benefit. The first concerns property: if you are contemplating buying a commercial property for your Sipp and gearing your investment with a mortgage, you may be able to borrow more before 6 April 2006. You could have a mortgage of 75% of the property's cost. After A-Day the maximum you can borrow will...