Investments for personal pensions
Produced in partnership with Alistair Hill of Brodies LLP
Practice notesInvestments for personal pensions
Produced in partnership with Alistair Hill of Brodies LLP
Practice notes
Before 6 April 2006, Personal pension schemes were specifically required to provide retirement benefits on a money purchase basis in order to be HMRC approved arrangements.
No such restriction now exists, but this former requirement, coupled with the original shortlist of authorised providers, has had a practical impact on the Investment structures and strategies that are commonly available in the marketplace for personal pensions.
Investment strategy
Unlike trustees of occupational pension schemes, contract-based pension providers are not required to prepare a statement of investment principles (SIP). The main public document for contract-based providers is the Independent Governance Committee (IGC) annual report. IGCs are required to act in the interest of policyholders. Their main function is to assess value for money, but the content of the annual report goes further than this. For example, it includes how the IGC has considered policyholders’ interests more generally. It must also set out the arrangements the pension provider has put in place to ensure that the views of policyholders are directly represented to the IGC.
For further information, see
Access this content for free with a 7 day trial of LexisNexis and benefit from:
- Instant clarification on points of law
- Smart search
- Workflow tools
- 42 practice areas
Get your quote today and take step closer to being able to benefit from:
- Instant clarification on points of law
- Smart search
- Workflow tools
- 36 practice areas
Get a LexisNexis quote
* denotes a required field
To view the latest version of this document and thousands of others like it,
sign-in with LexisNexis or register for a free trial.
Powered by Lexis+®
Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Investment definition
What does Investment mean?
An investment will typically mean any type of property or interest held within the territory of the host state. This will often extend far beyond 'obvious' property, such as real estate or shares in a local company, to (depending upon the circumstances) other interests such as rights under a contract, intellectual property rights and private loans. As with the concept of 'investor,' in the modern commercial world what does and does not qualify as investment can be a complex question. The definition of 'investment' will vary between BITs.
CONTACT US
