Thoughts on physicals held within pensions

[SamsonDD]

Hi folks,

If the SHTF event that many of us are expecting, actually occurs this year, much of our pensions etc. will be locked and destroyed well before we get near them (for us plebs working in the private sector anyway).  I have recently become aware of an option whereby we transfer funds from a pension pot to a metals dealer who purchases the metals, holds in vault and allows us to sell and transfer money back to pension pot at a later stage.  Has anyone attempted this or have any experience of it?  Does anyone have any opinion on it i.e. still risky because bullion may be 'claimed' by government or something?

To be clear, I'm not talking about ETFs, SLV etc.  This is cash, transferred from pension provider, to bullion dealer to buy bullion.  Sold at a later stage and transferred back to pension provider.

Sorry if that is a really stupid question or has been asked before.

Asking for a friend... 😀

[Pete]

Sounds dubious to me and merits proper research.
Once your money has left your pension pot it cannot be replaced.
Also the value would be added to your income for tax purposes in the year of withdrawal so you will possibly pay tax on 75% as 25% will be tax free.
If your pot is below the lifetime allowance threshold you can always top up your pension later but what tax relief you get is linked to the tax paid on your salary or limited to £2,880 net.
 

[blindedbythelight]

It is legit, you can invest in physical precious metals under a pension tax shelter such as SIPP.

Royal Mint offer it as a product  https://www.royalmint.com/invest/gold-for-pensions/ 

Personally don't think there is much "risk" in holding with them but of course there are the *charges* (royal mint/other bullion service provider + probably your SIPP provider) and your pension fund technically owns the gold not you directly so you wont even get to see/hold it/never take possession of it in gold form 

 

[SamsonDD]

I'm not so sure it would be taxable because it appears to be held as protected i.e. you cannot access it until retirement.

https://www.royalmint.com/invest/gold-for-pensions/

https://www.thegoldbullion.co.uk/gold-investment-guide/gold-in-your-pension/

https://www.sharpspixley.com/gold-pensions

This website actually gives a list of pension providers...

https://www.bullionvault.com/info/gold-sipp-pension-plan

Anyway, I have no vested interest in any of the above companies, I'm just trying to open a discussion with my brothers in arms.

[SamsonDD]

4 minutes ago, blindedbythelight said:

probably your SIPP provider) and your pension fund technically owns the gold not you directly so you wont even get to see/hold it/never take possession of it in gold form 

True but I'm sure a couple of rolls of silver or a wee 1/10 gold sovereign will keep me pacified 😂

[SamsonDD]

Quote

3 hours ago, Witcher said:

Taxation is always a concern... one moment it may appear safe and the next it's taxed to death by the stroke of a pen or feather or keystroke. 

 

Fair point.  I suppose it's balancing the risk of having all of my pension pot in a "diversified" portfolio of bonds/stocks/funds which can also be wiped out instantly at a currency reset versus buying gold, income tax and VAT free but which our governments can decide to rob us of at a later stage (You will own nothing and be happy and all that fairy cup cake talk from the WEF).  Personally, I'm leaning towards the latter but will update this post if I proceed to hopefully help anyone else in the same position.