Can clients buy using a pension fund or SIPP if they have already taken out their 25% tax free lump sum or have taken some benefits from this?

Yes, clients can still purchase within a SIPP, however it depends on the total value of the available funds within it.

What is the earliest age at which you can decide to draw retirement benefit and how is this going to change in 2010?

At present you can draw benefit at the age of 50, however as of April 2010 this will change to the age of 55.

Name at least 4 types of assets that can be held within a SIPP?

Commercial Property, Equity, Guilts, Bonds.

What are the options for taking income from your SIPP once you have commenced taking retirement benefits?

Annuity, Draw Down, Scheme Pension over 75 years old.

What is meant by Drawdown and what is the minimum and maximum allowable for pension drawdown?

Borrowing an amount against your pension and taking benefits from it. You are allowed to take benefit from between 0-120% of the Government Actuarial Department rates (GAD rate).

What is a Pension Commencement Lump Sum and what is the maximum amount that can be taken?

Formally known as a Tax Free Lump Sum means you can draw out a maximum of 25% tax free.

It is possible to transfer other pension arrangements into a SIPP. Name up to 3 types of pensions that could be transferred into a SIPP fund?

Money Purchase, Unit Trust Bond and Guilts.

Is it possible for multiple SIPP holders to jointly own a property and is there any limit to the number of plan holders that can participate?

Yes, multiple SIPP holders can own a property and there is no limit.

What is an Annuity?

Annuity is an insured income that guarantees an amount paid to you each year and cannot be changed. i.e £100,000 annuity will only ever pay you £6,500 Per annum for life!

What is the government website you can visit to try to trace former occupational pension schemes that may have been left behind with previous employers?

http://www.thepensionsservice.gov.uk