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The DIY Investor by Andy Bell

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chapter 5

SIPPs

SIPPs have become the retirement savings product of choice for investors wanting pensions that offer transparency, control, choice and competitive pricing.

A SIPP, which stands for self-invested personal pension, is a type of personal pension plan. SIPPs differ from personal pensions offered by insurance companies by virtue of the fact that they put you, the DIY investor, in complete control of where you invest your retirement savings.

SIPP overview

SIPPs offer exactly the same tax advantages as traditional personal pensions, meaning basic-rate, higher-rate and additional-rate taxpayers can get 20, 40 and 45 per cent tax relief on contributions respectively.

Investments held within a SIPP grow free of income and capital gains ...

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