A Self-Invested Personal Pension, or SIPP, is a pension plan that provides you with control over the way your retirement savings are invested, and gives you a range of flexible retirement benefit options.
Investments held in pension funds also gain from certain tax benefits. Any growth in the value of pension investments, from the moment savings start, is largely tax efficient. Any income that is taken from pensions in the form of benefits is taxable. NFU Mutual Financial Advisers* advise on the Barnett Waddingham SIPP.
Most ordinary personal pensions will allow you to choose from a range of funds from one or more fund managers. A SIPP will give you more choice over how your pension fund is invested.