Self-invested personal pensions (Sipps)

Wednesday, 25, Oct 2006 12:00

Self-invested personal pensions (Sipps) are a way of saving for retirement that puts you in control of your investments.

These benefit from the same tax incentives as standard pension savings plans, but offer a greater flexibility in what can be invested in.

On April 6th 2006 (labelled A-Day) the number of investment options with Sipps increased and far more money can be placed in them.

Sipps can be managed by the saver - either online or by more traditional methods - allowing them to switch in and out of investments and have access to up-to-the-minute valuations for their pension funds.

Sipps can include UK and foreign stocks and shares, gilts, commercial property and land, unit trusts.

Pensions News

Personal pension savers 'missing out on tax relief'
Many savers in employer-facilitated group personal pension plans and self-invested personal pensions (Sipps) might only be receiving half the tax relief they are entitled to, it has been claimed.
Poorly paying Sipps costing £579m
Poorly paying self-invested personal pensions (Sipps) cash accounts could be costing investors over £579 million a year.
Government announces Sipp changes
New changes to self invested pension plans (Sipps) will now allow savers greater freedom.
One in three over 40s with no pension plans
More than a third of the over 40s have no retirement plans in place.