The Secretary of State for Work and Pensions, David Gauke, announced today that the State Pension Age will rise for those born between 6th April 1970 and 5th April 1978. These individuals will have to wait an extra year to receive their State Pension, which will now be available from age 68.
The reason for the change was continuing improvements in life expectancy, and the increasing costs of providing this benefit. We have become used to regular increases in State Pension Age, the Government say they are following the recommendations of the recent Cridland report, published in March 2017. The change should ‘save’ the UK taxpayer £74 Billion by 2045/46.
The proposed new timetable for State Pension age increases can be found here: https://www.gov.uk/government/news/proposed-new-timetable-for-state-pension-age-increases
July 19th, 2017
The Minerva SIPP can invest in a wider range of assets including commercial property and land, on an individual or group basis. Any combination of permitted investments may be made within a Minerva SIPP including deposit accounts, DFM, open market platform/wrap accounts, stockbroker accounts and trustee investment plans, all held together within the same SIPP.
SIPP Lite is a lower cost option, for those that do not require multiple investment accounts, or access to commercial property and land at outset. SIPP Lite members are restricted to a maximum of one investment account, to run alongside the default SIPP bank account. This investment account could be another bank account or ONE of the following: stockbroker account, DFM, open market platform/wrap account or a trustee investment plan. For individuals that require additional investments at a later date, including commercial property and land, they can upgrade their SIPP Lite plan to a Minerva SIPP.
A Small Self-Administered Scheme (SSAS) is a type of UK registered pension scheme. Each SSAS is governed by its own trust deed and rules and is a separate legal entity to the sponsoring employer. The sponsoring employer establishes the SSAS and invites members to join. Any individual employed by the sponsoring employer (or a participating employer) may join the scheme and all members are appointed as trustees alongside the professional trustee. SSAS trustees have a very wide range of investment options, including the ability to make secured loans to the sponsoring employer of up to 50% of the net asset value of the scheme, subject to certain conditions.
We have been operating in these markets for over 20 years. The SSAS business was formed in 1997, and in 2003 we launched our flagship product, the Minerva SIPP. The range is completed by SIPP Lite, which has been available since July 2012.
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