A Self-Invested Personal Pension (SIPP) is a UK Government approved personal pension scheme, which allows a wide range of investments approved by HM Revenue & Customs (HMRC)
A SIPP can be set up with funds from existing pension arrangements, by making contributions, or from a combination of both. It is also possible for your employer to make contributions to your SIPP.
With employment mobility being a common feature of most modern careers, it is not unusual for you to have built up a number of employer pensions over the course of your working life. It is invariably in your best interests to consolidate these pensions into one effectively managed portfolio designed to meet your specific retirement needs.
According to a research survey by Prudential in the Financial Times, more than 80% of workers fail to transfer their company pension funds when moving jobs. A SIPP offers an ideal solution for those looking to consolidate their pension assets.