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Full Private Banking Advice
Keith Edwards
James Johnsen
Amanda Loram

Investment Management
Graham Hughes

Pensions Advice
Stephanie Bebbington-Dyke
Peter Burton

Banking Deposits
Phillip Slade

Bank Lending
Sue Best

Tax Compliance
Karen Blake

Trust Administration
Ann Hallett

Permitted Investments

Pension simplification has removed many of the restrictions on investment within pensions and with whom the scheme may transact.

Permitted Investments include:

• Cash Deposits.
• Quoted Stocks and Shares.
• Unquoted Shares.
• Collective Investments including Unit Trusts, Open Ended Investment Companies (OEICs) and Investment Trusts.
• Insurance Company Pension Funds.
• Commercial Property, either directly or via syndication/funds.

Transactions

Transactions between connected parties (i.e. the member and the scheme) are now allowed subject to sale/purchase ‘arm’s length’ provisions including independent valuations.

Controls

Controls on investment cover the following:

• Loans made by the scheme to a sponsoring company.
• Scheme borrowing on its own behalf.
• Investment within shares of the sponsoring company.
• Investments that ‘benefit’ members of the scheme.
• Investment within ‘prohibited’ assets.
• For SSASs, ‘Value-Shifting’ investments (e.g. the use of options that would remove value from the scheme and effectively put it in the hands of the member/ sponsoring scheme).

There are transitional provisions for pre-existing investments and borrowing before A-day, and care should be taken before any restructuring is considered.