How to build your own ‘pot for life’ pension with a SIPP

Self-invested personal pensions are just that – personal to you, not your workplace. You can have the same SIPP for life if you want. Here's how to take control of your retirement pot.

Woman managing home finances and savings
(Image credit: Getty Images)

Saving for a dream retirement? You’re probably already contributing to your workplace pension scheme. But what happens when you move jobs? Or choose to go self-employed? That money isn’t lost, but it can become harder to keep track of.

This is where self-invested personal pensions (SIPPs) can be extremely useful for keeping you in control of your retirement savings. A SIPP is essentially your pension ‘pot for life’, regardless of how your employment status changes.

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Laura Miller

Laura Miller is an experienced financial and business journalist. Formerly on staff at the Daily Telegraph, her freelance work now appears in the money pages of all the national newspapers. She endeavours to make money issues easy to understand for everyone, and to do justice to the people who regularly trust her to tell their stories. She lives by the sea in Aberystwyth. You can find her tweeting @thatlaurawrites