Self-invested personal pension (SIPP)

As the name suggests, a self-invested personal pension – or SIPP as it is commonly known – is a method of saving for retirement.
Like all pension schemes, it involves providing regular payments which are put into funds or assets which generate high rates of interest. Eventually, enough money will hopefully have been put away, and interest paid on top, to provide an income, or a lump sum, upon retirement.

The difference with a SIPP, however, is that the holder can choose where and how their money is invested.

Many pension schemes are run by employers, so most people allow their company to run the scheme and take a proportion of their salary to invest in it. A SIPP, however, is a type of personal pension, which means it is a private scheme which the holder arranges to be set up in their own right.

But while, in a traditional personal pension, the company providing the scheme chooses the funds in which your money is invested, a SIPP allows you to make that decision. You can invest in unit trusts, investment trusts, bonds, shares or even commercial property. And it has flexibility, which means you can switch investments at any time.

	Self-invested personal pensions (Sipps) Self-invested personal pensions (Sipps) are a way of saving for retirement that puts you in control of your investments.
	New Fidelity SIPP offers 1% cash back before end of 2013 Fidelity Worldwide Investment has launched a new deal that offers one per cent cash back on all pension transfers
	Santander launches 10-day personal loan sale Santander has cut the rate on personal loans between £15,001 and £20,000 to 6.8 per cent from 7.6 per cent, but only until midnight August 28th.
	Tesco Bank cuts rates on personal loans of £15,001 – £25,000 Tesoc Bank has cut the rate on personal loans between £15,001 and £25,000 to just 6.9 per cent.
	Skipton BS launch mortgage partnership with Personal Touch The Skipton Building Society has launched a two-year fixed rate mortgage deal for 80% LTV borrowers at 2.79% in partnership with Personal Touch Financial Services.