The ‘popular’ pensions option for consolidating pension pots

The ‘popular’ pensions option for consolidating pension pots

People planning for their retirement have been urged to look at setting up a SIPP as the scheme comes with several advantages.

Ed Monk, associate director, Personal Investing at Fidelity International, told “A SIPP is a tax-efficient way to start saving for your retirement with any contribution you make boosted by the Government.

“For example, if you are a basic-rate taxpayer and save £80 into a SIPP, the government will top this up with an extra £20.

“And if you are a higher or additional rate taxpayer, this benefit can be even greater. SIPPs have a wide range of investment options which gives you plenty of choice over how your pension is invested.”

He said that as…

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