The Attractions of a Self-invested Pension
One of the reasons for searching out the services of an independent financial adviser is that pension matters are awash with esoteric terms, labels and descriptions The self-invested pension - or Self-invested Personal Pension (Sipp) as you'll often see it called - is a good case in point
Go it Alone With a Self-Invested Personal Pension (SIPP)
If you find it unnecessarily restricting to be tied in to a pension company's choice of investments, you might find the flexibility and freedom of a Self-Invested Personal Pension (a SIPP, as it's usually known) attractive The term is entirely self-explanatory in so far as you remain completely at the helm of every investment decision for your pension fund and still enjoy the income tax relief that is granted to all pension plans - that is to say, any money you are investing is invested before the deduction of tax, so that if you would otherwise have paid the basic rate of 20% tax, every ?100 investment is effectively made for ?80