AES independent review - iPensions Group

iPensions Group has been operating since 1998. They primarily work with regulated advisers to provide a range of personal pensions for UK and non-UK residents.

iPensions Group says that innovative technology combined with decades of experience and talented people allows them to provide powerful pension support.

Regulated by the FCA (Financial Conduct Authority), iPensions Group is a three-time Global Financial Services Awards winner of the best international retirement award, for their international products and services.

Momentum Pensions' SIPP business has been rebranded to iPensions Group in the UK. Their office is located in Marshall House, 2 Park Avenue, Sale, United Kingdom.

iPensions Group's key offerings includes:

Adviser SIPP
Platform SIPP
USA SIPP
Core SIPP
Property SIPP
SSAS

Here's an overview of each one of them:

1. Adviser SIPP:

In iPensions Group's words, the Adviser SIPP gives you the ability to tailor retirement planning for UK and non-UK residents who want to keep their assets in the UK.

The Adviser SIPP offers flexible benefits from the age of 55 and boasts of transparent pricing. You can learn more about it in the documents section of this review.

Here's an overview of the set-up and annual fees:

	Single Investment Platform
Minimum Transfer Value	£40,000	£1,000,000	£1,500,000
Maximum Transfer Value	£999,999	£1,499,999	£1,999,999
Number of Pension Transfers in	Unlimited	Unlimited	Unlimited
Set-up Fee	£300	£300	£300
Annual Trust Fee	£500	£1,000	£1,500

2. The Platform SIPP:

The Platform SIPP allows you to consolidate your pensions into a single online managed SIPP.

It provides a wide choice of investments and is available to UK and non-UK residents.

Here is a brief cost breakdown (you can learn more in the documents section of this review):

Trust and Platform Services Fee
Annual Trust Fee	£200
Platform Services Fee	0.35% p.a.

Transaction Fees
SIPP Set Up Fee	Nil
Cash Transfer In Fee	Nil

3. The USA SIPP:

This SIPP is designed specifically for USA expatriates, USA residents who want a UK registered pension scheme and any USA-connected people.

Under this, USA connected people are able to choose from a wide range of investments, in line with iPensions Group's investment policy. They can appoint professional trustees to hold the assets and administer assets in line with UK regulations.

The initial set-up and annual fee structure here is similar to Adviser SIPP.

4. The Core SIPP:

The Core SIPP supports advisers by offering a wide range of investments from leading providers.

This SIPP allows you to consolidate your pension benefits and accepts qualifying contributions.

5. The Property SIPP:

The Property SIPP enables UK investors to access a wide range of tax-efficient commercial property and land assets, plus a variety of other UK-regulated funds, for long-term investment.

Members can leverage the assets in their Property SIPP to access commercial property loans. They can also generate income by using their SIPP funds to purchase and then lease business premises.

6. SSAS:

The Small Self-Administered Scheme is ideal for employers, company directors and business owners with fewer than 12 scheme members.

iPensions Group’s Small Self-Administered Pension Scheme offers significant control over contributions and investments.

With a wide range of asset options – including the opportunity to buy commercial property – this SSAS provides a high degree of investment flexibility.

NOTE:

You can learn more about each of these in the documents section of this review.
Please note that the fees mentioned above could change from time to time and you should check iPensions Group's website directly for the latest information.
We would highly recommend reading the expert verdict section of this review before making a decision.

Additionally, here's a free guide that can help you achieve better results. In this guide, you'll learn:

Academic evidence only shared with a select few firms across the world
A real-life example of why you should never try to outguess the market
Why a fund's past performance is not enough to predict future returns
Why you need to focus on what you can control and why this leads to a better investment experience
Why you should accept the markets for what they are
What can impact behaviour and make people seek instant gratification

The Pros

> Transparent and easy to understand fee structure

> Stong technical and administrative support team

The Cons

> Termination fee applies where all retirement benefits are taken under flexi-access drawdown or where benefits are transferred to an external pension scheme

What is the transfer out fees of the Adviser SIPP?

A transfer:

• To their other pension schemes are at no cost
• To other UK registered pension schemes £500
• To a recognised Overseas Pension Scheme from £1,000

Can I transfer my existing pension benefits into my SIPP?

Yes. You can transfer benefits from any UK registered pension scheme or a Recognised Overseas Pension Scheme (ROPS) into your SIPP.

Where you are transferring benefits from a ROPS you can apply to HMRC for an international enhancement of your Lifetime Allowance.

Your regulated financial planner will be able to provide you with further information and assist you with the application.

Please note there is a deadline to apply for this enhancement, which is five years after
the 31 January following the end of the tax year in which the transfer takes place.

You can transfer your existing pension benefits into a SIP even if you have commenced drawdown under the transferring scheme, providing that the terms of your transferring scheme allows it.

If drawdown has commenced under the transferring scheme, the value of those benefits will be held separately from other benefits under your SIPP and must be paid on the same basis as they were under the
transferring scheme.

Under the Core SIPP what type of pension income can I have?

Your SIPP can provide you with income in one (or a combination) of three ways:
• A drawdown pension;
• A UFPLS; or
• Purchase of a lifetime annuity.

When you designate funds to provide income you are normally permitted to take part of the funds as a PCLS payable at the time you make the designation.

When you take benefits this will trigger a test against the Lifetime Allowance.

Is iPensions Group regulated?

Yes, they are authorised and regulated by the Financial Conduct Authority, Licence Number 464521.

Expert assessment of iPensions Group

Momentum Pensions has rebranded its self-invested personal pension (SIPP) business to iPensions Group as part of their wider growth strategy.

It is a competitive product with transparent low annual fees rather than hidden percentage charges and is suitable for non-UK residents who want to keep their assets in the UK and hold FCA standard assets only.

You could also have the flexibility to pay contributions and take benefits from all, or only part, of your funds under your iPensions SIPP. This will allow you to phase your benefits to suit your personal circumstances.

Investors should only take advice from UK authorised pension transfer specialists and avoid conflicted, commission-based advice.

Read the UK regulators advice on pension transfers.

Never deal with a firm that isn’t authorised as a UK pension transfer specialist.

Our advice would be to seek professional, fee-based and independent advice if you have a SIPP with iPensions Group.

For pensions worth £500,000 or more, we recommend contacting us for a Second Opinion.

iPensions
Group

An independent review by our team of experts

REVIEW SUMMARY