Planning for the retirement
November 29th, 2009
As an Independent Financial Advisor (IFA), a lot of people ask me about retirement planning and the UK has a lot of options. One of the options I’m going to speak about today is a Self Invested Personal Pension (SIPP). There are a number of websites to check out on the internet – one of which is SIPPs.org.uk. Because people are living longer lives I think it’s important to think more about how to save for retirement. One goof thing about a SIPP is that it allows you to have an effective way to avoid high taxes. SIPPs are referred to as wrappers in the sense that they wrap a number of other pensions into one big pension. You can then take that money and invest it into one big one. The variety of permitted investments will vary from company to company so check out the possibilities before you get too far into the process. Oh yeah, and you have to be under 75 to contribute to a SIPP. If you’re over 75 then good work!
Entry Filed under: Business