Guides & Advice For SIPPs
Self-invested personal pensions (SIPPs) offer more control than traditional pensions and the opportunity to invest in a wider range of assets. They can also be used to combine several personal pension pots into one and are an ideal choice for anyone who wants to take advantage of the new pension freedoms introduced in April 2015.
However, taking full control does come with responsibility and a SIPP is only suitable for those who understand financial markets and are prepared to make their own investment decisions, or can afford regulated independent financial advice. Any decisions taken using a SIPP will have an impact on your retirement income, so it’s always wise to seek FCA-regulated financial advice first. check out their website
Navigating the Future: Essential Tips and Advice for Maximizing SIPPs Returns
SIPPs are available to UK residents between the ages of 18 and 75. They are especially popular amongst the self-employed who can contribute up to a maximum of PS235,000 per tax year, and they are an attractive choice for those who want to consolidate their pension pots as well as anyone wanting to access their pension funds early or via drawdown.
There are a wide range of providers of SIPPs. Some are cheaper than others but what’s most important is finding a provider that suits your investment complexity and the way you plan to use your SIPP. Consider things like administration fees, dealing fees (buying and selling shares), whether you can hold commercial property, charges for taking an income from your fund, and transfer penalties if you change platforms in future.