Pensions

SIPPs

A Self Invested Personal Pension (SIPP) is a type of Personal Pension Plan. It works in the same way for contributions, tax relief and eligibility. However the main difference is that the SIPP has a more flexible approach to investments.

A conventional personal pension generally involves the plan holder paying money to an insurance company for investment in an insurance policy. This means the money is invested with relatively little choice or freedom from the plan holder.

A SIPP allows the plan holder much greater freedom in what to invest in and for the plan to hold these investments directly.

This option is popular with investors who are more interested in their investments being actively managed by a professional investment adviser and perhaps accessing commercial property within the arrangement.

SIPPs also offer greater flexibility when it comes to taking your pension benefits as a pension. The most obvious benefit here is Income Drawdown.

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