Changes to The Rowanmoor Pensions Family Pension Trust, 6 April 2007
Rowanmoor Pensions is the scheme Administrator and scheme operator for Family Pension Trust schemes from 6 April 2007.
Available since October 2006, the Rowanmoor Pensions Family Pension Trust was the first truly innovative pension product launched in the UK since pensions simplification in April 2006. It is eligible for Financial Services Authority (FSA) authorisation as a form of self-invested personal pension (SIPP) and is regulated from 6 April 2007.
A Rowanmoor Pensions Family Pension Trust is designed to provide members with a tax-efficient way to build up a pension fund, control to invest in assets of their choice, flexibility to choose when and how to take benefits and the ability to make joint investments with other Family Pension Trust members. The scheme is:
- a separately registered provider based pension scheme, run on the basis of a common trust, so members have access to personal pension principles with small self-administered scheme functionality;
- flexible, members can be added or removed as circumstances dictate without complex deals being created between individual members’ funds, or assets having to be sold;
- perfect for business partners and groups of professionals, such as doctors or solicitors, as membership is not restricted to families in the traditional sense of the word;
- in most cases less costly to establish and run than a group of individual SIPP arrangements;
- far less complex to establish for group commercial property investment, than a group of individual SIPP arrangements and we do not insist on a specialist property company being appointed as managing agents; we even allow the members themselves to manage their own property if they wish.
More information about the Rowanmoor Pensions Family Pension Trust is contained in the Family Pension Trust area of this site and in the Library.