SIPPs are another variety of personal pensions. Group SIPPs work in a similar way to GPPs in that it is a group of people with pension funds looking to benefit from each other’s holdings. By grouping the funds together you are able negotiate better policy charges for all members for the SIPP.
A group for the purposes of a Group SIPP could be family members, businesses or certain individuals within organisations.
There are other benefits that a Group SIPP can provide but this is something that requires more specialised and specific advice. If you think this is could be applicable to your situation then please contact us for further information.
A prime example of a Group SIPP being required is where business partners pool their funds together to purchase a commercial property for their business (or other businesses) to operate out of.