Novia Self Invested Personal Pension (SIPP)
Planning for later life or retirement can be effectively undertaken through a number of Novia product wrappers – and at the heart of this offering is a form of personal pension – the Novia Self Invested Personal Pension, or SIPP.
The Novia SIPP is a product wrapper that allows individuals to:
- build up a pension pot from:
- one off and regular individual, employer or third party contributions
- transfers from existing pension arrangements elsewhere
- access a very broad range of investments to construct an appropriate portfolio
- use the accumulated pension pot (after age 55*) to:
- make income drawdown payments both before and after age 75
- buy an annuity on the open market
- use different investment strategies for different elements of the SIPP – ie the part used for generating the pension fund and the part where income is taken.
- More information is available on the Novia SIPP in the Key Features Document or from your financial adviser.
Group SIPP
A Novia Group SIPP scheme is also available via the service. This allows an employer to set up a group scheme for their employees made up of a number of individual SIPPs. More information is available here.
Pension Performance Review
Over time many of us will make different pension arrangements with different pension providers. To understand where you stand with your current pension arrangements and whether they still meet your need we are pleased to introduce The Pension Performance Review Company. The Pension Performance Review Company provides advisers a proven and time-efficient pension review and transfer process. This allows advisers to offer their clients a comprehensive view of their existing pension arrangements and enables them to work through and document the advice process involved in making recommendations about whether a pension should be transferred. Novia’s wealth management service is used in conjunction with The Pension Performance Review Process to enable, where appropriate, pension portfolios to be invested using the broad range of investments Novia makes available.
Advisers interested in finding out more about The Pension Performance Review, the supporting software and how it could benefit their clients should contact their Regional Sales Manager – details are available here.
More information on the Pension Performance Review can be found here.
*Pension regulation changes mean the age at which benefits can be crystallised will move from age 50 to age 55 in April 2010
Please note whilst Novia Financial plc is pleased to introduce The Pension Performance Review Company Ltd, neither Novia or The Pension Performance Review Company Ltd provide advice regarding the suitability of investments for clients which remains the responsibility of the adviser.
