Investors could benefit from Sipps, says specialist

Mon, 17 Sep 2007

Investors could benefit from self invested personal pension schemes (Sipps), an expert in the financial services industry has said.

Self invested personal pension schemes may be seen by some as high-end investment tools but managing director of Purplecircle Consulting Mark Andrews commented that they are not just for investors with "exotic assets".

High-street investors can access derivatives of self invested personal pension schemes as a way to gain a fund platform.

Mr Andrews described these types of self invested personal pension scheme as "an alternative vehicle to accessing different investment managers".

However, investors must be aware that low-cost self invested personal pension schemes can have running costs attached to them, he added.

Investors could also then move up to a full-blown self invested personal pension scheme, Mr Andrews remarked.

Savers can invest £225,000 per year into a self invested personal pension scheme along with other stocks and shares, which will pay out upon retirement .

Assets such as commercial property may also be pooled into the fund, which is held in a so-called tax-free wrapper.

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