A self-invested personal pension (SIPP) gives you the opportunity to invest in a wide range of assets, including equities, unit trusts, gilts and commercial property.
Like all pensions, a SIPP offers up to 45% tax relief on contributions and is free from capital gains and income tax. At the point of retirement, you can usually take up to 25% of your pension fund tax-free.
SIPPs can be both flexible and tax efficient, however they do require active management so they won’t necessarily be for everyone.
An independent financial adviser can help you to decide if a SIPP is right for you and find the best solution to match your needs. You can also ask your adviser to manage your investment choices, so that you’re backed by expertise and experience.