12 May 2006
According to investment and insurance provider Legal and General, Self-Invested Personal Pensions (SIPPs) are proving more popular than ever since April’s A-Day changes.
Pensioners and investors can make contributions of up to £215,000 per year and the choice of providers and products is wider than ever.
Andy Agar, head of retirement product development at Legal and General, said that the new regulations had widened the prospects for all kinds of pension investments.
“A standard pension scheme gives you in general a choice of 30 or 40 funds,” he said. “With SIPPs there is a much wider investment choice of providers.”
The variation in policies is highlighted by the increased access to adapted investments, although Mr Agar warned that investment in these “depends upon your attitude to risk”.