|
You can't invest in to PEPs anymore but you may retain the investments you have already made under the PEP tax-shelter umbrella, which is now similar to that offered by Individual Savings Accounts (ISAs).
You may well be one of millions of people who invested in a PEP in the 12 years they were on offer and are now left wondering what to do with the savings you have accumulated.
 |
|
Time for change
There may be many reasons why you may become dissatisfied with your PEP. You may think the charges are uncompetitive or the performance is poor. You may decide that you want a change of management style, or that you want to switch from a PEP that is aiming to grow your capital to one that intends to provide an income.
You have the right to transfer your PEP from one plan manager to another at any time, although your existing plan manager may make a charge for doing so and a new plan manager may charge an initial fee as well. |
|
Many people assume that, because they bought their PEP in a certain tax year, they cannot touch it until they want to cash in their investment. This is not the case. You are perfectly at liberty to transfer a PEP allowance from a past tax year to a new provider.
If you would like a PEP talk with us – please e-mail us for further information.
Levels and bases of, and reliefs from, taxation are subject to change.
|
