Why gold ?
Gold has a proven track record of being a long term store of value, making it ideal for those looking to make an investment with a long time horizon. Gold also has properties that can make it ideal to protect your money against the effects of inflation. You are however much encouraged to research the market before committing as we are unable to give you specific investment advice ; as such you might like to see our site HERE that will allow you to investigate whether this is an attractive asset class (or not) for you to invest in.
Can I invest in gold using my SIPP/SASS?
Physical gold has been eligible for inclusion in Self-Invested Personal Pensions (SIPPs) since 2014. Depending on your circumstances, the UK Government will pay up to 45% of the cost of your gold. In addition, any gains with be Capital Gains Tax (CGT) exempt subject to rules and guidelines by the HMRC. The normal rate is 28% of any gain.
The gold bars that we provide for your pension meet the regulatory standards of HMRC and are from a 'London Good Delivery' refinery.
What types of gold cannot go in a SIPP/SSAS?
Physical gold that is not “investment” graded cannot go in a SIPP/SASS. This includes gold coins such as sovereigns and Krugerrand, gold wafers and gold ingots that do not have “good delivery” status.
Can I take delivery of the gold bullion in my SIPP/SSAS?
The HMRC requires the bullion held in your SIPP/SSAS must remain within the vaulting arrangement. Important to note is that you do not hold the gold directly – your pension fund does. Sharps Pixley offers investment grade bars with a purity of 99.99% produced at world leading refineries and offer 100% allocated safe storage in our highly secure vault. Our facility has insurance through a leading Lloyds of London broker.
Can I buy silver/platinum/palladium bullion for my SIPP/SASS?
No, only securely stored physical gold in bar form with a purity no less than 99.50% can be added to your pension savings.
What are the costs ?
You will be purchasing physical gold at the interbank gold price plus a modest premium ; the premium varies depending upon the product selected but starts from about 1.5% over the interbank gold price offer for say a kilobar. This premium reflects amongst other things a higher purity bar than the interbank price (London market is 99.5% whereas our bars are 99.99% purity) plus the cost of manufacturing the smaller bars. On top of this there is a storage and insurance cost equivalent to 0.3% per annum of the value held. Sharps Pixley are committed to providing our clients with the very best pricing in the market.
So, how do I get started ?
Either ask your SIPP provider to contact us or message us yourself. We shall need two forms of ID for both yourself and your provider as part of our 'know your client' procedures ; we would then ask which size gold bars you would like to hold in your pension and then suggest a (competitive) price against which you have the option to commit. Once the trade and the funds cleared into our account, the physical gold will be moved into a box with your, and your SIPP providers name on it. Simple as that.