Posted on: 17 Sep, 18
It is essential that you start to plan for your retirement as early as possible so that you are able to live comfortably in the knowledge that your lifestyle needs are covered. This will mean careful consideration of your pension fund throughout your working life.
With retirement planning, it is important to take into account the fact we’re all living longer. Couple that with the fact that the cost of living continues to rise and the value of the State Pension continues to dwindle, this provides a very strong case for starting to save early for your future. For appropriate investors, one option is a Self-Invested Personal Pension (SIPP). A SIPP is a wrapper for your pension investments and gives you control of your pension, whereas most members of a company pension scheme have very little control and almost no idea where their pension money is invested. Also, with many of the UK’s largest companies closing their final salary schemes to all members, many members now have to look at taking their pensions into their own hands. First introduced in 1989, SIPPs have evolved into a favoured investment vehicle for individuals seeking more control and flexibility in their retirement planning. They are suitable for those people who are comfortable with making their own investment decisions about their retirement...
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