epito. SIPP FAQs
Cutting through the confusion.
What is a SIPP?
A SIPP (short for "Self Invested Personal Pension") is simply a type of pension. What makes it different is that, as the name suggests, the individual pension holder makes decisions on how the SIPP is invested.
How is that different from other pensions?
In other pensions, the decision making on how the pension money is invested is made by the company that runs the pension scheme, and not the individual pension holder.
Is there anything wrong with a SIPP?
Not in principle. They were designed for people who were experienced in investing who wanted more control over their pension. However, there are many individuals who have been advised to open SIPPS that are not approporiate to their personal or financial circumstances.
Should I have my SIPP?
We can take a look and tell you what we think. The ability to close your SIPP depends on a number of complex issues such as the value and legal status of the investments in your SIPP. Every case in this area is unique. We can help you look at all of the factors and decide on the best way forward.
What if I would like to, but can't close it?
If you can't close your SIPP at this time, we would be very happy to add you to our SIPP Monitoring Programme. We are keeping close watch on all of the various developments in this area, and can let you know the moment something changes that might affect you.