Find out more about SIPPs (Sef Invested Personal Pensions) with our expert guide to retirement planning and pension savings in association with Hargreaves Lansdown.

A Guide to Self Invested Personal Pensions (SIPPs)

Arguably the biggest pension success story in recent years has been the rise of the SIPP (Self Invested Personal Pension). During a time when pensions have often been in the news for the wrong reasons, SIPPs have offered investors the opportunity to retake control of what is likely to be their most important asset other than their house.

With their wide investment choice SIPPs allow investors to pick the best investments, while benefiting from the generous tax relief offered by conventional pension plans. Even better, SIPPs such as our own provide you with internet access giving you real time valuations and the ability to manage your pension online if you choose.

As a result, astute investors have flocked to open a SIPP: leading them to grow from being relatively niche - largely the preserve of wealthy individuals - to bordering on becoming a mainstream way to save for retirement for those that are happy to make their own investment decisions.

A Guide to Self Invested Personal Pensions (SIPPs)

As they have grown in popularity, the range of SIPPs available has become more diverse, with different providers offering variations on the product to suit different investors. This is great news because it means that there is more choice, whatever the fund size, budget or investment requirement. For most people, all that is needed is access to a wide range of good quality funds and the tools to control them: online access and clear investment information. This is now available at low costs. A few may require more complicated features, such as the ability to buy a commercial property within a SIPP. Again, this is available; albeit at higher costs.

A Guide to Self Invested Personal Pensions (SIPPs): There are two basic ways you can start a SIPP: new contributions (such as monthly payments and one off lump sums) which attract tax relief at up to 40%; while transfers from other pensions allow investors to move away from outdated pension arrangements with limited investment options and poor customer service. Since April 2006 almost everyone is eligible.

A Guide to Self Invested Personal Pensions (SIPPs): This free guide explains the pros and cons of SIPPs in plain English; who can prosper from them and who may be more suited to a stakeholder pension. Alex JF Davies – Hargreaves Lansdown Director of pensions.

A Guide to Self Invested Personal Pensions (SIPPs): for the full guide to SIPPs, Click Here