We have seen an increase in requests to access pension pots before the Budget, which falls on 26th November 2025.
This seems to follow a similar pattern to last year, due to speculation about what might be announced in the Budget, particularly around tax-free lump sums from pensions.
These stories often precede a Budget, and whilst we have no advance knowledge of any potential changes this time around, our administration teams are coming under increasing pressure due to a spike in the volume of requests.
As a result, it is now taking up to 4 weeks to pay Tax-Free Cash, also known as Pension Commencement Lump Sums (PCLS), from our SIPPs. The same timescales apply to Uncrystallised Funds Pension Lump Sum (UFPLS) payments.
Note that HMRC and the Financial Conduct Authority have recently advised that there are no cancellation rights on payments of PCLS or UFPLS, so anyone requesting such a payment needs to be aware that once paid it cannot be reversed.
September 30th, 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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