Pay Attention To Your SIPP Investments
SIPPs- Self Invested Personal Pensions
SIPPs provide a flexible pension option with the widest range of fund and investment choices.
IFAs will be able to aid in the choice of funds and investments to bring into your SIPP, and advise on the most reputable, efficient and cost-effective Sipp providers. You could go for an online provider with minimal IFA input, such as SIPP Center, Hargreaves Lansdown, Sippdeal, James Hay’s e-Sipp and Fidelity FundsNetwork. You may choose an insurance company, many of which have expanded into Sipps. Other factors include SIPP Rules, retirement from a SIPP (Income Drawdown, Annuities etc), best SIPPs for specific investments.
A SIPP Investment allows you to have the kind of control that enables you to make your own choices based on what you feel is best for you. There is no doubt that SIPPs require a little bit of effort to maintain and monitor but this is the minimum you should expect when your financial future is at stake.
SIPPs give you the keys to a kingdom where the best fund managers will be waiting to help you with your decisions. You can make changes as you see fit and SIPPs are not all that costly. The recent introduction of low-cost SIPPs has given hope to lower income earners looking to set something aside for retirement. With high quality fund managers in all sectors, SIPPs give you a major head start, especially compared to traditional pension plans.
A pension will be in most people’s top two most important investments in their lifetime and in some cases will be worth more than a mortgage. Do not neglect it or else you will be faced with a potentially bleak financial future.
All of the above articles have been written as a means of encouraging people to choose wisely when it comes to their pension and the information they contain constitute general recommendations rather than personal advice. Remember, stocks, bonds and all other investments are volatile in nature and will fall in value as well as rise. This means you should be looking to hold each position for a long time. Never believe that past performance dictates the future and be aware that there are no investment guarantees.
If you already have or are being offered a company pension, it would be a good idea to join and make some initial contributions. Never place large sums of money on investments you are not sure about. When in doubt, seek assistance from a financial advisor. The tax relief levels mentioned in the previous articles are all up to date but could change in the future with the new government in place. Your financial situation dictates the level of tax relief.
The above information is based on legislation that is in place at the beginning of the current tax year 6 April 2016 and may change from April 2011 onwards. Also, an individual pension scheme may have restrictions which are separate to those imposed by legislation.