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23 Oct 2013

SIPPs Provide Investors With Clarity And Simplicity

As average life expectancy continues to rise, planning for retirement is becoming more important than ever. Many people spend 30 or even 40 years saving for retirement, and having sufficient income to rely on when no longer working is crucial. With this in mind, getting savings right can make all the difference.

In a bid to have more control over their savings and investments, an increasing number of Britons turn to self-invested personal pension (SIPPs). Although exact numbers are not available, it is estimated that there are currently around one million SIPPs in the UK, which is 20 times more than there were 15 years ago, EveryInvestor website reported.

However, there are still many people who seem to be intimidated by the words “self-invested,” and assume that SIPPs are a risky and complicated affair. Actually, this is not the case, and a large number of investors are putting their money in plain vanilla collective funds and other more simple investments that involve hardly any risks.

In addition, investors can always look for professional help when in doubt; many people work with independent financial advisers or discretionary fund managers that manage the investments.

According to the EveryInvestor website, one of the biggest advantages of SIPPs is their clarity and simplicity. SIPPs allow investors to keep all their pension investments in one location, and to keep a close eye on the way they are progressing.

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