A Self Invested Personal Pension (SIPP) is a complex pension product that requires you to actively manage your investments. We therefore strongly recommend that you seek advice from a Financial Adviser before taking out a Xafinity SIPP. Xafinity is unable to advise you on whether a SIPP would be suitable for you, or what you should invest in. Our role is to administer your SIPP within the guidelines and rules set out by Her Majesty’s Revenue and Customs (HMRC), in accordance with the terms of the SIPP, and to act as a Trustee for the SIPP assets.
If you’re not sure about where to obtain advice, we suggest you contact IFA Promotion Ltd, which is an industry body responsible for promoting independent financial advice in the UK. IFA Promotion Ltd will be able to give you details of a Financial Adviser in your area and whether they have specialist pensions qualifications. Their contact details are:
We will accept applications on an ‘Execution Only’ basis. This means that you have not asked for or received any financial advice before proceeding with an application. Should you wish to proceed on this basis you will be asked to confirm this in the Application Form.
Transfers of pension benefits from previous arrangements are a complex area and we believe that everyone should take expert advice before proceeding. Xafinity cannot give you this advice and you should therefore consult a Financial Adviser. Because this is a complex area, we will only accept transfers where you have taken advice from a Financial Adviser. There is one exception to this:
- Where the transfer is from a scheme where you do not have the right to a deferred pension (ie you only have the choice of a refund of contributions or a transfer).
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