Royal Mint’s golden pension

A GOLD-plated pension scheme has long been the dream for workers.

Now, for the first time, the Royal Mint is allowing savers to build up a pension pot made from the precious metal itself.

Investors will be able to visit the Mint’s website and buy 100g or 1kg bars, as well as own a fractional amount of a 400oz (11kg) bar as part of a selfinvested personal pension.

The Mint is hoping to benefit from the growing trend of private investors looking to gold as a way of hedging against volatility on global stock markets. Prices will be set and constantly updated by the Mint, and the gold will be kept in its storage facility at a fee of 1 per cent plus VAT per year.

Danny Cox, a chartered financial planner at Hargreaves Lansdown, the investment company, said: “Investors need to understand gold is by no means a one-way bet. Gold is notoriously difficult to value, subject to seasonal demand, and unlike shares and bonds, it provides no income for investors. Price movements can be fickle and unpredictable. It can, however, be used as a hedge against calamity.”