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Alliance Trust Full SIPP (Self-Invested Personal Pension)

Full SIPP FAQs

How can I invest the funds within my Full SIPP?
We offer a wide range of investment options - this is not always the case with other SIPP Trustees and Administrators, many of whom will not allow certain classes of investment, for example, commercial property and unquoted shares.

How do I complete an investment application form?
As the range of possible investments are so diverse, we do not insist on a particular style of investment instruction to be completed. When you have selected investments appropriate to you, you should

• complete the formal purchase or investment forms for that investment.
  
  
• Alliance Trust Pensions Limited should be stated as the owner of the investment.
  
  
• sign it then send it to us. We will then arrange to sign it

All investments are held in the name of Alliance Trust Pensions Limited as Trustee, so we would be the sole applicant for all investments. However, we always designate the investments with the name of your SIPP, e.g. Alliance Trust Full SIPP - J Smith.

If I am taking income drawdown under another personal pension arrangement, can I transfer these funds to the Alliance Trust Full SIPP?
Yes, provided the rules of your existing personal pension scheme allow it.

Does my money earn interest when held as cash within the SIPP?
Yes, if cash is held in an interest bearing deposit account opened by the Trustees. The current rates are attached. Other investment providers may or may not offer interest on cash held by that provider.

Please click here for a copy of the latest rates.

Can my SIPP invest in residential property?
If your pension fund invests in certain investments, known as Taxable Property, i.e. residential property (whether in the UK or elsewhere) or tangible moveable property, then tax charges will be applied that will remove the tax advantages that would otherwise apply. These tax charges will apply if the investment in Taxable Property is made directly or indirectly, although there is an important exception for indirect investment in Taxable Property made through any of the following 'Genuinely Diverse Commercial Vehicles':

1. UK REITS that do not allow you, or anyone connected with you, to occupy or use the property.

2. Other kinds of vehicle that satisfy the following conditions:

• the total value of the assets held by the vehicle is at least £1 million or it holds at least three residential properties, and in either case no asset that is Taxable Property has a value that exceeds 40% of the total value of the assets held
• if the vehicle is a company, it is not a close company (or, if it is not resident in the UK, would not be a close company if it were resident in the UK)
• it does not have as any of its main purposes the direct or indirect holding of an animal(s) used for sporting purposes.

Furthermore, the following conditions must be satisfied:

• your pension fund does not hold an interest in the vehicle to enable you, or anyone connected with you, to occupy or use the property
• your pension fund, together with any associated person, does not hold 10% or more of the vehicle.
  

3. Trading concerns that satisfy the following conditions:

• the vehicle's main activity is the carrying on of a trade, profession or vocation
• your pension fund, together with any associated person, does not have control of the vehicle
• neither you, nor anyone connected to you, is a '20% director'
• your pension fund does not hold an interest in the vehicle to enable you, or anyone connected with you, to occupy or use the property.

What rules and regulations govern the Alliance Trust Full SIPP?
Our Full SIPP is governed by its Trust Deed and Rules, and the appropriate terms and conditions which may be amended from time to time.

Trust Deed and Rules - 15 February 2002

Deed of Amendment - 12 October 2005

Deed of Amendment - 31 March 2006

Deed of Amendment - 28 August 2006

Deed of Amendment - 5 April 2007