Anyone who thinks investing in gold is worthwhile is in for a treat, as it can now be added to your Self-Invested Personal Pension (SIPP).
The Royal Mint
announced that from June 8 investors will be allowed to include gold
bars in their pension pots.
You can choose from
Royal Mint Refinery 100g and 1kg bars, with prices linked to the
real-time gold price.
Sadly, you’ll not be
allowed to include Royal Mint gold coins in your SIPP as they’ve
have not been authorised by HM Revenue & Customs - although there
is the option to buy a small share of a gold bar.
Even more sadly though,
if you're planning to show off your bullion friends to like a James
Bond villain, you should note that you won’t actually be able to
keep your gold investment at home - it'll be stored in a secure
That won’t come for
free, so you’ll have to factor in an annual fee of between 0.5% and
1% plus VAT when deciding if investing is worthwhile.
You can find more
information on buying gold bullion directly from the Royal Mint.
What the Royal Mint
has to say
Chris Howard, director of bullion at the Royal Mint, claimed investors would feel more confident investing with such a reliable brand.
"The Royal Mint
benefits from a centuries-old reputation as a trusted bullion
provider and manufacturer of coins on a global scale,” he said.
"The move to make
Royal Mint gold bullion available for holding within pension schemes
opens us up to a whole new marketplace."
What do ‘the
Some have questioned how popular the offer will prove with pension investors. Jason Holland of financial advisers Tilney BestInvest told the FT:
wanting exposure to gold will do so either through Exchange Traded
Commodities, which follow bullion prices and are backed up by
physical reserves, or through the prism of gold mining stocks or
funds specialising in gold equities.”