Guides & Advice For SIPPs

A Self-Invested Personal Pension (SIPP) is an excellent choice for anyone who wants to take control of their retirement savings. Unlike workplace pensions, where you’re invested in funds managed by big names like Aviva or Scottish Widows, with a SIPP, you can choose what to invest your money in – providing that it doesn’t breach the rules set out by the government.

You can also use your best SIPP providers to consolidate other pension pots, although always seek professional financial advice before you do so, as transferring can cost money and could leave you with fewer benefits at retirement. It’s also possible to open multiple SIPPs, which can reduce risk and help you access a wider range of investment options. However, doing so will add to management fees and increase the amount of time you need to dedicate to your pensions.

SIPPs Demystified: A Practical Guide and Expert Advice for Successful Investing

There are a number of different SIPP providers, and charges can vary considerably. The cheapest SIPPs tend to be ‘no frills’, offering just the basic SIPP ‘wrapper’ and charges on the underlying investments you buy. Others offer a full range of services, including guidance on which investments to make and a research team that can support your portfolio.

Regardless of which provider you choose, you should always shop around. You may find that you can get the same or better investment choices from a competitor for less. You should also check whether the provider offers any specific investment types you want to hold, such as commercial property or collective investments.