What is a SIPP?

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A SIPP (Self-invested Personal Pension) is an investment plan that is designed to provide an income later in life. In this guide we look at what a SIPP is and how they work. We then explain the advantages of consolidating your pensions into a SIPP and the control you can gain by doing so. SIPPs give you the freedom to choose how to invest your retirement savings and manage them over time. Our range of services can give you the support you need and level of involvement you want with your hard-earned retirement savings.

What's in the guide?

  • Understand what a SIPP (Self-Invested Personal Pension) is and how they work
  • Find out how to gain control over your pensions with a Self-invested Personal Pension (SIPP)
  • See who can have a SIPP and if it is right for your personal circumstances

Important information

SIPPs are not suitable for everyone. If you don’t want to invest across different asset classes or don’t think you will make use of the investment choices that SIPPs give you then a SIPP might not be right for you. Please contact us for guidance or advice if you are unsure whether a SIPP is right for you.

Before you consider transferring a pension, it is important to ask yourself: Will I lose any valuable benefits or features from my existing pension plan? Will I incur any penalties on my existing pension if I transfer? Is it an occupational final salary pension scheme? (in which case it is very unlikely to be advisable to transfer) Have I considered the charges on my current plan? (a new arrangement may be more expensive – especially if you have a stakeholder pension).