A Sipp is a type of pension which, like any traditional personal
pension scheme and aims to provide you with a tax efficient vehicle
within which you can invest funds to provide a regular income and a
tax free lump sum when you reach age 50 (55 from 2010) or over.
You're in control
The major difference between a Sipp and
traditional pension plans is that you have a far greater degree of
control and flexibility as to the type of investments you can make
within your pension plan.
Greater choice
For example, your Sipp could comprise such
diverse investments as cash, equities and other shares such as
investment trusts), bonds and gilts, direct commercial property and
some specialist residential property funds.
Transferring your existing pension plan/s
to your Sipp
Even if you already have a personal pension,
an occupational pension or a retirement annuity contract,. you can
transfer the assets held within them into a Sipp.