Self-invested pension plans
Self-invested, or self-directed, pension plans give you maximum control. On top of the income tax benefits you’d expect from a pension plan, they allow you to invest in a wide range of assets, ultimately chosen by you.
At Moneycube, we can help you put in place a self-invested pension plan (SIPP) with several of Ireland’s leading pension providers.
What can you invest in?
A self-invested pension is as flexible as it gets. Your pension will be able to invest in a wide range of global assets through a linked stockbroking accounts.
Potential assets include:
Funds, including investment funds, exchange-traded funds (ETFs), and investment trusts
Ready-made investment portfolios in the form of multi-asset funds
Company shares listed on global exchanges
Real Estate Investment Trusts (REITS)
It’s also possible to acquire directly with your pension, by creating a Small Self-Administered Pension Scheme, or SSAPS. You can read all about this in our SSAPS centre.
How do I add money to my SIPP?
You can invest a lump sum and on a monthly basis. It’s also possible to transfer in funds from an existing pension. There’s a minimum account size of €15,000.
Is it right for me?
As you’d expect, self-invested pension plans are generally suited to people who are comfortable taking their own investment decisions – with the support of qualified staff from Moneycube, of course. You’ll need to find the time to monitor your fund regularly to be sure your investment strategies are on track.
A SIPP might suit you if:
You want to take charge of your pension pot and direct how it is invested yourself
You want your pension invested in a wider range of assets than usual
You’re not contributing the maximum amount to existing pensions for tax relief purposes
You want to move or consolidate some of your existing pension pots
Self-invested pension plans are higher-risk than many other types of pension fund, so speak with Moneycube if you’re considering putting one in place.