A Look At SIPPs Self-Invested Personal Pensions
A SIPP or to give it its full title a “self invested personal pension” is in itself a pension plan. It is a “wrapper” that encompasses all your investments until you retire and start to draw a pension. In essence a SIPP allows you to make your own investment decisions from a barrel of pre-approved investment options. A good self managed or third party managed SIPP can be extremely beneficial in terms of tax relief and pension income when you retire compared to standard pension plans.
Typical approved investments include government securities, insurance company funds, investment and unit trusts, traded endowment policies, National Savings products and commercial property; the list is by no means comprehensive and different providers will offer and specialise in different investments depending on your personal circumstances and aspirations.
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