Self Invested Personal Pension Plans - SIPPS
These do exactly what the name suggests and consist of two elements, one the trust to create the pension, and the other is the investment which fits within the trust. The trustee establishes the trust and administers this providing annual reports to the Insurance and Pensions Authority on the Island and also reports to the Tax Authorities. The charges for this vary depending upon the complexity of the plan. You can invest in a simple insurance bond or platform which is the easiest for the Trustee to manage and obtain valuations, to one which invests in individual shares, corporate bonds and commercial property.
We can explore all of the options that are available to you and assist you to come to a decision about the trustee and about your investments. We would then treat your investments in the same way as we have described under investments.