Just three weeks after the Brexit vote, the shock waves reeling across financial markets may have already had a dramatic effect on your SIPP, so here's a suggestion below as to what to do
The Short Term Effect On Your SIPP Following The Brexit Vote Could Be Quite Serious
First The Brexit Vote Good News For SIPPs
Final Salary Transfer Values Soar Post-Brexit Vote
The UK’s Brexit vote decision to leave the EU has pushed gilt yields to historic lows, pushing defined benefit transfer values to record highs. FTAdviser On The Brexit Vote
Sadly Most Of the Brexit Vote News Is Bad For SIPPs
What The Brexit Vote Could Mean For Pensions
The future of the triple lock on state pensions, the tax relief system and defined benefit schemes have all been called into question by the Brexit vote to leave the European Union. Money Marketing On The Brexit Vote
'Pension Time Bomb' Warning After Brexit Vote
A collapse in gilt yields - the interest earned on UK Government bonds - could be building a 'pension time bomb' as annuity rates are slashed 8 per cent and final salary scheme deficits widen after the Brexit vote. This Is Money On The Brexit Vote
Pension Tax Relief Now Up For Grabs
Warnings have been issued that pension tax relief could now be ‘up for grabs’ again in light of the Brexit vote to leave the EU. Citywire On The Brexit Vote
Crowdfunding And Peer-To-Peer - 5 Key Considerations After The Brexit Vote
A number of key figures from the alternative finance sector have issued “business as usual” statements, as well you might expect them to. But the enormity of the Brexit vote cannot be understated. AltFi On The Brexit Vote
More Property Funds Suspended As Brexit Vote Tremors Continue In The City
Britain’s Brexit vote to leave the EU has sent further shock waves through financial markets, with three more property funds suspended, the pound plunging and share prices falling amid fresh uncertainty about the economic impact of the decision to leave the EU. The Guardian On The Brexit Vote
Caution Urged On Pension Withdrawals Post-Brexit Vote
Advisers have been told to encourage their clients to think twice about taking cash from their pension pots in the immediate aftermath of the UK’s Brexit vote decision to leave the European Union. FTAdviser On The Brexit Vote
The Five Biggest Risks Facing The UK Economy Post-Brexit Vote
As Sterling plunges to new 31 year low, Asian markets are in turmoil, Sovereign bond yields plunge around globe and the Bank of England eases rules for banks, here are the five biggest risks facing the UK economy. The Telegraph On The Brexit Vote
What Should You Do Following The Brexit Vote?
Given the recent high profile resignations of the "Old Spice Girls" (Cameron - Posh Spice; Farage - Scary Spice; Johnson - Baby Spice; Hodgson - Sporty Spice; Evans - Ginger Spice), the answer to the above question could well be found in the first line of Rudyard Kipling’s poem “If”, which begins:
If you can keep your head when all about you are losing theirs...
Stockmarket investments are by their very nature long term. Volatility is part and parcel of the deal and occasionally, large falls can result. Investment in property is also a long term play. It’s the very reason these asset classes are found in long term financial contracts like SIPPs.
So here’s the suggestion.
If your investment horizon was set for the long term, there’s no sense in taking a knee-jerk reaction right now. After all, selling any asset when markets are down could simply crystallise a loss. But if you sit tight, the loss is only ‘on paper’, and time could well solve the problem automatically.
In short, if your SIPP money is invested for the long term, perhaps the best thing to do right now is Keep Calm And SIPP Tight!
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AJ Bell Is Often The Best Value SIPP For Stockmarket Assets
Over time, charges can wipe out a huge part of your fund. We like AJ Bell because there are no set-up costs. If you hold passive funds, which is our preference, or shares, investment trusts, EFTs, gilts or bonds, you pay one small fixed fee no matter how large your fund. And when you come to draw your benefits either as occasional drawdown or UFPLS payments, there's a small charge for the whole year no matter how many times you access your money (many SIPP and SSAS providers charge more than this for each payment). However, you should always compare charges in detail, because AJ Bell could be more expensive than other providers, depending on the type of stockmarket assets you hold.
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As SIPPclub neither advises on, nor arranges, nor recommends specific investments or strategies, we're unable to say whether a SIPP or SSAS or any investment within it is right for you. Ultimately, it’s your money and your decision, and you should only proceed once you're satisfied you've undertaken sufficient due diligence. If you need advice, you should speak to your trusted adviser, or you could find a local adviser from Unbiased.co.uk. Alternatively, we'd be pleased to introduce to a suitably qualified independent financial adviser.
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