The Inscape SIPP is a highly tax-efficient and flexible pension arrangement that can help you plan for a financially secure retirement.

What Is a SIPP?
A SIPP is an alternative to an off-the-shelf personal pension, giving you control over how your money is invested and how you receive retirement benefits.

SIPPs offer the same tax benefits as other pension arrangements approved by the Inland Revenue. You save tax when you make contributions and the value of your fund grows free of UK income and capital gains taxes (with the exception of the tax on UK dividends which cannot be reclaimed) and may be free from inheritance tax when you die. Contributions qualify for tax relief at your highest rate of income tax.

Is a SIPP the Right Pension Plan for Me?
A broad range of people are eligible for SIPPs but they are not appropriate for everyone. We will take time to understand your retirement and investment needs and priorities and to establish whether this is the best option for you.

Those most commonly eligible for a SIPP are:

	Self-employed or
	In non-pensionable employment or
	Not a member of your company pension scheme.

If you belong to a company scheme you may still take out a SIPP if:

	No further contributions are paid to the scheme or
	The scheme only pays benefits in the event of your death or
	You have income from another job for which there are no pension arrangements and for which you wish to take out a Plan.

How will Any Contributions be Invested?
Your Plan will be fully invested in an individually tailored Inscape portfolio, reflecting your personal investment aims and requirements.

What Choices Do I Have Regarding Retirement Benefits?
When you take out your SIPP you select the age at which you would like to start receiving benefits. You can take benefits from as early as your 50th birthday, and are under no obligation to formally retire. You do not have to purchase an annuity (a type of insurance contract that pays out an income) until you reach the age of 75 under current Inland Revenue regulations.

Your benefit choices include:

	Purchasing an annuity and receiving a tax-free lump sum of up to 25% of the remainder of your Plan value
	Phased retirement, which allows you to purchase an annuity and take your tax-free lump sum in stages, maximising tax efficiency
	Income Withdrawal, whereby you defer the purchase of an annuity and select the amount of income you would like to receive each year, within agreed parameters (or a combination of the above).

Who Administers the Inscape SIPP?
The Inscape SIPP is administered by James Hay Pension Trustees Limited on behalf of the SIPP Provider, James Hay Insurance Company Limited. James Hay is one of the leading names in Self-Invested Personal Pensions and has established an unequalled reputation in the pensions market for the quality of the service it provides. James Hay is part of the Abbey National Group.

What Contributions Can I Make to My SIPP?
Anyone can contribute up to £3,600 to a personal pension arrangement in any tax year, including basic-rate tax relief. If you are employed or self-employed you are likely to be able to contribute more than this.

The Inland Revenue sets the maximum amount that you can contribute to a pension plan each year as a percentage of your earnings. They also set an ‘earnings cap’ which defines the maximum amount of earnings that are pensionable. The ‘earnings cap’ for the 2001/2002 tax year is £95,400. This usually increases each year in line with the Retail Price Index.

The total amount that can be contributed to your Plan is set out below.

What Are the Charges?
Please ask your Advisor for more details. To find out more about the Inscape SIPP please call 0845 605 4400.

Can I Transfer My Inscape SIPP to Another Provider?
It may be possible for you to transfer the value of your fund to another personal pension arrangement or approved occupational pension scheme.