Can gold form part of my SIPP pension?

Yes, gold can form part of your pension. You can purchase gold through your SIPP and gain up to 40% tax relief on your investment.

What is a SIPP and can I invest in Gold?

In April 2006 the UK government introduced Self-Invested Personal Pensions (SIPPs).  The introduction of SIPPs has made it possible for UK citizens to invest in certain types of gold bullion as part of your pension provision.  SIPPs allow you to invest in ‘investment grade’ gold which is an approved asset class in the government guidelines surrounding SIPPs. They also allow investors to have control over the investments within the portfolio, subject to SIPP rules and guidelines.

If you do not already have a pension, you can start a new one, you can open a SIPP alongside an existing pension or you can transfer an existing pension into a SIPP. SIPPs are more flexible than many other types of pension and enable you to select certain types of approved investment categories, including gold.

Your pension provider acts as trustee of the SIPP, ensuring the SIPP reporting and rules are adhered to and you are able to chose which investment you wish to make. When you come to retire, you can use the SIPP investment to provide a retirement income or purchase an annuity from an insurance company.

SIPP rules require the type of gold purchased to be ‘investment’ gold, which must be ‘good delivery’ bars of a purity of at least 99.5%, in effect being bars that are accepted by the recognised bullion markets such as our 12.5 kilo gold bars that come from LBMA approved suppliers and stored in our ViaMat LBMA approved vaults. Other forms of gold, such as Gold Sovereigns and Gold Brittanias and other gold coins are excluded. Silver is also excluded from the approved types of bullion investments for SIPPs. The London Bullion Market Association (LBMA) publishes a list of accredited suppliers of ‘good delivery’ bars and specifies the ranges of weight and dimensions, to which the bars must conform. Good delivery bars must also have been kept within LBMA accredited vaults, to ensure the quality and purity of the gold is maintained.

GoldMadeSimple supplies gold from LBMA accredited suppliers, stored in LBMA accredited vaults and ensures that the gold meets these SIPP requirements. 

 

How do I set up a SIPP?

It is recommended to use an FSA approved Independent Financial Advisor pension provider to set up your SIPP. If you do not already have one, contact us and we can recommend one to you. 


How do I invest in Gold as part of my SIPP?

  1. Either you or your pension provider / IFA should inform our customer service team that you wish to register a GoldMadeSimple SIPP account
     
  2. Our team will guide you through the account registration and ID verification process.
     
  3. You then need to download and complete our Pension Fund: Account Administrator Authorisation form to confirm that your pension provider authorises you to administer the funds within your GoldMadeSimpleSIPP account
     
  4. Next your pension provider arranges to transfer funds to your GoldMadeSimple SIPP account.
     
  5. You will receive an email confirming once the funds have cleared our Client account.
     
  6. You can then log in to your account and buy gold bullion.
     
  7. When you decide to sell your gold, the funds are transferred back to the bank account controlled by your pension provider.

 

Information for pension providers

GoldMadeSimple SIPP accounts are set up with safeguards to ensure the funds are only used to purchase approved types of 'investment gold' and also that funds can only be returned to the bank account controlled by the SIPP provider. These accounts are treated separately to our standard client accounts and have a 2 stage system of checks to ensure integrity of process is maintained.

This ensures that:-

  1. Only 'investment' gold (London Bullion Market Association good delivery) can be purchased - Preventing purchases of silver or coins
  2. Only gold bars for storage at Via Mat (LBMA accredited storage) can be purchased - not bullion for delivery
  3. Our system ensure that money can only be returned to the bank account registered when the account is initially set up - which prevents the client moving the money to anywhere, other than the account controlled by you

For more details contact us.

Please Note:  The articles that are published on our website are provided for background information only.  GoldMadeSimple.com is not FSA regulated and cannot offer you investment advice.  Any investment you make is at your own risk.  Information provided on our website may be out of date at the time of reading and we would recommend that you verify all details elsewhere and consult and IFA before making your investment. 


Buying physical gold is not regulated by the Financial Services Authority (FSA). For the benefit of doubt, we are not Financial Advisors or fund managers nor do we give financial advice. The information contained on this website is for "informational purposes" only, and does not replace professional, regulated advice. We encourage you to do your own research before buying gold or silver, and to seek out professional advice from an Independent Financial Adviser (IFA) if you are unsure.