Why Sipp Are Becoming A Popular Investment

Mon, 18 Aug 2008 00:00:00 -0400

It is not often that pensions are described as 'sexy' but SIPPs (self-invested personal pensions)are apparently just that. These DIY pensions that offer a wide range of investment options and the opportunity for investors to manage their own money have soared in popularity since they took off two years ago. That was largely due to the biggest shake-up of the pensions system since Lloyd George introduced the old age pension in 1908. But while they might be seen by some as the 'Rolls-Royces' of pension savings, others fear they are the next big financial services mis-selling scandal in the making. They are not for everyone. Far from it: in fact many people would be better off with a traditional pension arrangement. More than a quarter of a million people have taken out a SIPP since 'A-Day' ushered in an era of unprecedented flexibility in pension saving. The new rules, introduced on April 6, 2006, scrapped restrictions on how much savers could stash in their pension fund: from then, people could save up to 100 per cent of annual earnings, subject to a current cap of £235,000. **End Summary** Topics: Alternative Investment]]> Property Investment]]> Commercial Property Investment]]> UK Property Investment]]> SIPP]]>]]> About the Author: ]]> By Roger Winston, SIPP and commercial property investment expert.

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Why Sipp Are Becoming A Popular Investment