Financial Blogging

When deciding on the pension that will give you the retirement you deserve, SIPPS pensions are the one way where you can be in complete control at all times.  There are pros and cons to being in full control of your own retirement fund from being able to make excellent dividends to losing it all when investing. 

The first thing you need to understand is that SIPPS pensions stands for Self Invested Personal Pension, you pay in any amount from £400 upwards and invest it wisely into bonds, investment trusts and unit trusts.  You need to know how investments work, otherwise you can lose everything. So if you are unsure, speak to an investment professional before opening up an account.

The pro side of these pension plans is that you will not be charged tax on any dividends or capital gains because it is a pension, you can even receive tax relief on your contributions.  The terms are very flexible so you have the choice of making a one off payment or regular smaller payments and there are no set up fees.

SIPPS pensions enable you to hold cash in nine major currencies, enabling you to trade around the world or set up automatic monthly investments, which are all available at a low cost.