Guides & Advice For SIPPs

A self-invested personal SIPP Advice (SIPP) allows you to take full control and responsibility for how you invest your pension savings. They’re often used to consolidate multiple workplace pension schemes or pension pots from previous jobs and are also suitable for those who want greater flexibility with how their money can be invested in retirement.

Compared to more traditional pension options, such as a standard Personal Pension or ISA, a SIPP provides greater scope for investment in a wide range of assets including funds, shares, trusts, property and commercial property. It’s also possible to run a SIPP alongside your workplace pension, which can provide the added benefit of employer contributions.

SIPPs Unveiled: A Comprehensive Guide to Self-Invested Personal Pensions

It’s important to remember that SIPPs are complex products with fees and charges which can add up. They’re also not right for everyone – you can get many of the benefits of a SIPP from a basic personal pension, which may be lower in charges and simpler to administer.

It’s worth remembering that you can withdraw the money in your SIPP in retirement – though how much of this you can do and what option you choose will depend on how old you are when you retire. You’ll then be able to draw an income from your investments in the same way as you would from a basic personal pension, or use it to buy an annuity. The latter is an increasingly popular choice, but it comes with its own costs and you’ll need to shop around.