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SIPP
DO YOU HAVE AN UNDERPERFORMING PENSION OR POSSIBLY A FROZEN PENSION POT FROM A PREVIOUS EMPLOYER?
It is estimated that there is over £80 billion worth of ‘frozen pension pots’ in existence in the UK alone, which are not being contributed to anymore or sufficiently increasing in value. In addition, many UK residents are disillusioned with the performance of their pension fund and worry that they will fall into the pension trap when they come to retire. People are now taking action for their own retirement planning and transferring these frozen pension pots and underperforming pension funds into a SIPP so they can take responsibility for where their money is invested.
What is a SIPP?
A SIPP is a ‘Self Invested Personal Pension’ and is ultimately like any other pension product. However, the main difference with a SIPP is the fact that you are responsible for making the decisions as to where you invest the capital sitting in your fund instead of a fund manager who more than likely you will never meet. You are able to invest money from your SIPP into a variety of products such as, equities, cash, investment trusts, land and commercial property.
Uncover lost or forgotten Pension Funds
If you have previously worked for a company and paid into a pension scheme you may be able to take action and transfer this into a SIPP.
If you look back over the past ten years and indeed even further, If I was to ask you what has been your best investment over this period....the majority of you will say the property you live in or ‘bricks and mortar’. People in the UK have a fascination with property and history certainly provides us with proof that over the long term property has outperformed any other type of investment.
You are now able to purchase commercial property with ‘frozen pension pots’ and ‘underperforming pension funds’ through your SIPP.
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