About SIPPs
To benefit from the available tax benefits for owning investment gold you need to commit to a pension arrangement called a Self Invested Pension Plan [SIPP] for which regulations have been by set up by the UK parliament.
In a SIPP your pension fund investments are chosen by you, but the property in your fund is administered by a formal pension fund trustee. When you choose to retire your fund provides the capital which pays you an income - through direct draw down or annuity, according to your choice.
There are some reporting and legal obligations, but the SIPP trustee takes care of all of this. The service they provide is sometimes called SIPP 'wrapping'. This service allows all your investments - which can be very diverse - to be aggregated and reported on as a single portfolio. The SIPP wrapper also takes care of claiming your tax relief from the government whenever you pay in a contribution, and putting it automatically into your fund.
You may open more than one SIPP provided you stay within the appropriate limits, so even if your SIPP manager won't support a gold investment you can find another which does. SIPP providers who can support gold are advertising on this site.
