There has been a lot of change to how pensions operate over the last 30 years, with incentives such as tax relief, auto enrolment legislation and various tax-free allowances aimed at encouraging everyone to provide for their future.
For most people, retirement planning is about making sure there are sufficient funds to provide an income in later life, and for loved ones such as a spouse or dependants.
We recently had a call from an adviser where their client, who was in their late 60s and in ill health, has a spouse in her mid-50’s. The adviser was concerned as the client had a life expectancy of 12-18 months, and wondered whether the client dies before reaching age 75 will their spouse be entitled to draw the income tax-free and inheritance tax free? He said that various technical papers on the upcoming changes didn’t cover this question.
From what we know about current and proposed legislation, she will be entitled to draw income free of tax for the remainder of her life, or until the fund is exhausted, whichever comes first. The often-missed point being that transfers between spouses and civil partners are exempt from IHT, including what we understand about the changes to IHT on pensions coming in April 2027.
October 24th, 2025
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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