How we Structure our SIPP
Our Scheme is registered under Chapter 2 Part 4 of the Finance Act 2004.. The SIPP Trustee and Administrator is I.P.M. SIPP Administration Limited.. The bare trustee to the Scheme is I.P.M. Personal Pension Trustees Limited.. The bare trustee is simply to give an additional layer of protection to clients in the event of failure of IPM. It ensures that all scheme assets are divorced from the assets of the trading company.
The “provider” of the IPM Personal Pension Scheme is the Bank of Scotland with who the trustee establishes the default bank account for each client.. IPM operates a unique Bank of Scotland sort code giving us the ability to transfer monies in-house same day, which can be crucial when it comes to making investments within a SIPP.. Each member has their own specific, designated account which is instant access and pays a competitive rate of interest.
IPM views the SIPP as having two distinct functions; pension administration and investment management.. IPM specialises in providing the pension administration whilst we look to a third party to manage/place the investments.. This is typically an IFA, investment manager or stockbroker selected by the scheme member.
All arrangements with investment advisers are formalised by the completion of agreements provided by IPM. In all cases it will be necessary to appoint a third party to buy investments and to maintain the investment records.. The IPM documentation refers to this appointment as the “Investment Administrator”.. Additionally, a client may appoint someone to give investment advice, instructing IPM as to what investments to buy – in IPM terminology, the “Investment Adviser”.. This is often the same person as the Investment Administrator, but it does not have to be and is not required where the member takes all investment decisions personally.
All monies in and out of the SIPP must pass through our default Bank of Scotland account, a statement of which is issued to either the client or their adviser.
I.P.M. SIPP Administration Limited, Cintel House, Watton Road, Ware, Hertfordshire SG12 0AD Tel 0845 130 3443 Fax 0845 230 3443
email info@ipm-pensions.co.uk I.P.M. SIPP Administration Limited is authorised and regulated by the Financial Services Authority.
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