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Guides & Advice For SIPPs

Self-invested personal pensions, or SIPPs, offer more flexibility and choice than other forms of retirement pension. They’re a type of ‘pension wrapper’ that can hold investments – including shares listed on the stock exchange, unit trusts, open-ended investment trusts, government funds, offshore funds and commercial property. SIPPs tend to be more suitable for people who are confident in making their own investment decisions and/or have larger pension pots to invest. They can also be used to transfer an existing pension into, although this may carry exit penalties and should always be done after carefully reviewing the benefits of the new scheme. this website

SIPPs Success: A Definitive Guide and Expert Advice for Smart Investing

You can have more than one SIPP to help reduce the risk of your investments by spreading them out across different assets classes, and some providers offer the option to pool two or more individual pension funds into a single fund (known as a family SIPP). This can save on administration costs but it’s important to ensure you meet any requirements around minimum contribution levels for each pot.

Remember that all investments come with a degree of risk. If you’re not comfortable with managing your own investments, it’s recommended that you consider getting FCA-regulated financial advice. It’s also worth remembering that the Financial Services Compensation Scheme only covers up to PS85,000 if your provider goes bust. It usually makes more sense to focus your contributions into your workplace pension first, where employer contributions and tax relief are available.

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