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Royal Mint gold bullion now available to pension savers

Joanna Faith
Written By:
Joanna Faith

UK savers will be able to own Royal Mint gold bars in their pensions from today.

Investors will be offered a choice of bullion, ranging from Royal Mint Refinery 100g and 1kg bars, to Signature Gold – a service that allows customers to purchase and own a fractional amount of a 400oz gold bar.

Once bought, the gold is stored in The Royal Mint’s on-site bullion vault storage facility

This is the first time that Royal Mint gold bullion has been eligible to be held in self-invested personal pensions (SIPPs).

HMRC determines which assets can be held within tax efficient SIPPs. In terms of gold products, only certain gold bars are eligible, and no gold coins are authorised.

The move comes amid reports of a surge in demand for safe haven gold as fears grow over the health of global markets.

BullionVault, the online bullion exchange, said the number of investors buying physical gold hit a three-year high in May.

Josh Saul, founder of The Pure Gold Company, said the long term nature of gold investing creates a “natural synergy with pension vehicles”.

“Owing to the recently introduced requirement for all employers to offer their staff pensions people are taking more of vested interest in their retirement.

“We have noticed a 26% increase in people looking to convert part of their pension or SIPP into physical gold bars with us over the last 3 months.”