SIPP
A self invested personal pension, or SIPP, is a type of DIY pension.
A self invested personal pension, or SIPP, is a type of DIY pension. As the name suggests, rather than using a specific fund company and buying an off-the-peg pension from them, you manage your own savings, choosing exactly when and where you will invest the money you hold in your pension.
The SIPP is effectively a tax-efficient wrapper for your pension investments. You can build up the portfolio yourself or hire an expert to run a bespoke scheme on your behalf.
Money invested in a SIPP, which gets generous tax breaks, can be put into anything from a fund to commercial property. You can also use SIPPS for a much wider range of investments, including wine and antiques.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
British Airways revamps Avios scheme bringing down flight prices to £1
With the new Avios part-payments scheme you can now bag a British Airways flight for as little as £1
By Oojal Dhanjal Published
-
RBS to close a fifth of branches
Royal Bank of Scotland plans to shut 18 branches across Scotland, resulting in the loss of 105 jobs. We have the full list of closures.
By Ruth Emery Published