Actually, most people would say pensions ARE boring.
And who could blame them?
Boring returns (at best). Attached to boring funds where the investor feels zero connection or control. That has been the story for most of us for far too long!
So how exciting! What a revelation, that out of this boring marketplace has come the rather thrilling Self Invested Personal Pension (or SIPP).
A SIPP turns all the things you hate about your pension completely on its head.
- You choose where to invest it.
- You can invest in really exciting opportunities.
- Investment returns can go from Boring to Soaring
- You can invest in real, tangible assets, not a fund floating somewhere in the "ether" that you don’t understand!
Direct tax-efficient property investments, hotel investments, energy, agriculture, gold and many other appealing assets are all available to you when you have a SIPP.
So what is a SIPP?
Here’s the science bit: what our friends at the Pensions Advisory Service says:
"A Self Invested Personal Pension (SIPP) is a type of personal pension plan. It works in the same way for contributions, tax relief and eligibility. However the main difference is that the SIPP has a more flexible approach to investments.
A conventional personal pension generally involves the plan holder" (that's you and me -ed.) "paying money to an insurance company for investment in an insurance policy. This means the money is invested with relatively little choice or freedom from the plan holder.
"A SIPP allows the plan holder much greater freedom in what to invest in and for the plan to hold these investments directly. The plan holder can have control over the investment strategy or can appoint a fund manager or stockbroker to manage the investments.
So it's official: more flexibility, more freedom, more control. And let's face it, no-one cares more about your pension than you do - so who should really be in control?
Want to find out if a SIPP would be right for you?
Every week we meet real people with real concerns about their retirement. It could be concerns over a lack of pension performance or a general dissatisfaction with boring, underperforming funds, high charges and a general lack of understanding of where and how their money is invested.
Do some research...
Maybe you have pension funds from a previous job or jobs and don’t know where they are or how to find them? Good news - there is a free service that the government provides for this! https://www.gov.uk/find-lost-pension.
Then let us do the rest
Once you have your pension provider and policy number then we can help you get the funds reviewed. Our free pension review will tell you what you have, how it has performed, what you are being charged and some projections for the future as it stands. No obligation.
How can we offer this?
Frankly because the average pension fund has peformed so badly that the majority of those taking the review get a "wake-up call" and feel motivated to do something about it. In many cases they choose to work with us to make it happen.
The report will be compiled by an expert FSA regulated financial advisory company and you will know exactly where you stand.
Then, you can choose (there’s that word again!) to either:
- Stay as you are, or
- Change your path
It’s up to you!