Beginners’ Guides

Beginners’ guide to pensions and retirement

Personal Pension Schemes

These schemes are likely to have a higher minimum contribution – often at least £100 per month – and higher annual charges than Stakeholder schemes.

However, they normally offer greater investment choice and flexibility.

SIPPs

Although with most personal pension schemes, you can let your pension provider make the day to day investment decisions, a Self Invested Personal Pension (SIPP) can allow you to take a much more active role in the investment of your pension pot.

You may be able to choose from a range of fund managers – not just the ones from your pension provider – and you could invest directly in commercial property. But you should seriously consider getting financial advice before you sign up.

Please bear in mind

Where the value of your pension pot relies on investment growth, you need to remember that the value isn’t guaranteed and can fall as well as rise depending on investment performance (and currency exchange rates where a fund invests overseas).

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