Guides & Advice For SIPPs

Self-Invested Personal Pensions (SIPPs) have become increasingly popular since the introduction of new pension freedoms in 2015. Rather than handing over your retirement savings to an investment manager, a SIPP allows you to take control of your investments and save into a fund that can be used for whatever you choose. However, this flexibility comes with responsibility and should only be considered by those who are able to manage their own finances appropriately and understand the risks of self-investment.

If you’re unsure whether a SIPP Advice is the right pension scheme for you, arrange a free initial consultation with a financial adviser. They can establish which type of pension is most suitable, based on your individual circumstances and current finances.

Mastering Your Retirement Plan: Essential Guides & Advice for SIPPs

There are a number of pension providers, insurance companies and brokers that offer SIPPs. You should shop around to find one with competitive charges and the investment options you need. You can also transfer existing pensions into a SIPP, either as cash or ‘in-specie’ transfers.

A DIY SIPP, often referred to as a ‘Lite’ or ‘low cost’ SIPP, is ideal for those with smaller pension pots. They’re typically offered by investment platforms and charge lower or no setup, administration or dealing charges than Full SIPPs. AJ Bell and Hargreaves Lansdowne are both good choices for an DIY SIPP because they cover a wide range of funds and stocks, including Islamic funds. However, they don’t provide the same level of guidance or research that a regulated financial adviser would.