How to get the cash out of your Pension

snow hope · Post by **snow hope** » 21 Sep 2006, 22:39

To me, Gold is looking like a more and more sensible buy at the moment - $580/ounze. If I had any spare cash I would buy Gold. Does anybody know is it possible to transfer a PPP stakeholder pension into Gold?

isenhand · Post by **isenhand** » 22 Sep 2006, 06:10

Pippa wrote: It was also pointed out to me that the costs of buying land (solicitors and transfer costs etc) were about ?4,000.
Then as pointed out by kenneal you need to rent it out or stump up annual admin charges of ?450 plus vat (which rise every year with inflation ).

or team up with others ans share the cost?

grinu · Post by **grinu** » 22 Sep 2006, 08:07

I would hang fire on gold for a couple of months snow.

Pippa · Post by **Pippa** » 22 Sep 2006, 08:54

simonrichards912 · Post by **simonrichards912** » 22 Sep 2006, 10:24

Paul,

Thanks for this. I have been wondering what I can do with my funds and buying a farm and/ or land is already part of my long term plan.

Joe · Post by **Joe** » 22 Sep 2006, 14:54

snow hope wrote:To me, Gold is looking like a more and more sensible buy at the moment - $580/ounze. If I had any spare cash I would buy Gold. Does anybody know is it possible to transfer a PPP stakeholder pension into Gold?

Money Week seem very keen on silver too. It's all to do with the silver/gold price ratio. apparently.

grinu wrote:I would hang fire on gold for a couple of months snow.

Back with Money Week again - they reckon that Indian jewellery manufacturers typically re-stock their inventories in September ahead of the Indian wedding seasons in November-December and March-May, and that this rise in demand is significant enough to distort the world price.

Cabrone · Post by **Cabrone** » 26 Sep 2006, 14:12

Interesting stuff. Having read the posts on this topic would it be possible to set up your own company and get your SIPP to buy all the shares thus releasing the pension funds for you to work with?

grinu · Post by **grinu** » 26 Sep 2006, 19:58

I explained in my previous comments on this thread Pippa - didn't want to regurgitate...

Cut a long story short - wait till after the US mid-terms. Although now not sure, because I've heard along the grapevine that Bush may be planning a last chance crusade to rid the world of Iran's nuclear ambition.

Edit: Which would add significant upward pressure on gold.

snow hope · Post by **snow hope** » 08 Nov 2006, 08:29

I am very worried we are on the verge of a financial markets crash. I have to move my pension before it happens. Somebody told me Government bonds / gilts might be worth considering if the markets/dollar starts to crash. Can anybody elaborate or give their thoughts on this?

Pippa · Post by **Pippa** » 08 Nov 2006, 08:49

http://dollarcollapse.com/faq/

This may be of use. You can click on the read chapter one on The Coming collapse of the Dollar which is also very interesting.

SunnyJim · Post by **SunnyJim** » 13 Feb 2007, 16:06

Has anyone actually done this yet? Are there any SIPP providers that allow investment in agricultural land cheaply?

snow hope · Post by **snow hope** » 13 Feb 2007, 23:43

I am still prevaricating on this.

I have investigated SIPPs and was told that there are annual fees that make them a bit more costly than for instance a normal stakeholder pension - but this will be as useful as an ashtray on a motorbike when the markets crash......

As for government bonds / gilts - I have got no further with this although their recent performance seems to have been pretty poor. But my interest is what will happen to them if the stock market has its worst crash for decades. I suspect in that instance their performace may be markedly different, and it is specifically this I am trying to get an answer on.

I have also asked if you can have a SIPP invested in Gold - no answer to this either. Must start to ask some different people......

snow hope · Post by **snow hope** » 24 Feb 2007, 23:20

Still trying to find out more info. about bonds - they seem to be what people switch to when stock markets drop/crash.

Surely somebody on here know about this a bit? I am getting very nervous about the mortgage/housing situation in the US. This is bound to start to hit the markets soon if not very soon......

Joules · Post by **Joules** » 25 Feb 2007, 20:16

Snow, give me 24 hours and I'll know about SIPPs and gold bullion at least, if not land. I'm meeting an advisor tomorrow (Monday) who I have prepped about wanting to turn my pension into one or the other and he seems up for it. My pension is only worth about 10 grand, so won't buy me much land in Kent; I'm hoping that by buying gold, if the price does rocket, then I'll be able to buy land when the pension matures. That's the theory anyway and I reckon at least it's a better bet than the financial markets... What I have sussed so far is that TPTB don't like pensions invested in movable stuff, so if you want to buy physical bullion, it has to be lodged with a third party - that could be the tricky part...

More tomorrow.

Jules.

Joules · Post by **Joules** » 26 Feb 2007, 18:27

Well it seems to be relatively straightforward. My financial adviser said he would be quite prepared to set up a gold bullion SIPPS for me, but it would be disproportionately expensive: it would cost between ?500 and ?1,000 to set up and then would have running costs of about ?400-?500 per year, so for a ?10,000 pot was a big chunk. He reckoned that the fees for a pension should only be about 1.5% of the value, so I need to get the pot up to about ?25,000 to ?30,000 before embarking on this idea - it's a similar scenario for Land/property based SIPPS. His main concern was finding an acceptable place to 'hold' the gold. I may be able to sort that out as a friend of mine is a jeweller and he may be willing to provide the necessary secure storage for the gold. The other serious point of caution is that these SIPPS are effectively self-regulated and if your arrangements fall down on the rules, you'll be taxed at 55%, so you have to make sure you cross all the ts etc.

I'm in favour of the gold hedge-bet, so I may buy some now while I believe it is relatively cheap and then sell it to my pension at a later date...