- Your main goal is to find a SIPP that you feel comfortable with. The marketplace has many SIPP providers, so it’s always prudent to shop around and compare the pros and cons of each provider, as well as their respective product offerings. Work out which provider is offering the best deal for your circumstances and make sure you understand what it can and can’t do, including how it works and the initial and on-going costs involved.
- Do your own research as this type of SIPP pension will firmly place matters into your own hands. It is crucial that you develop an understanding of how your SIPP works and how your investment decisions affect the performance of the SIPP. There are many internet sites dedicated to educating people on investments that can provide quality information on how best to invest.
- Consult a pension’s expert or wealth manager. Managing your SIPP without guidance from a professional can result in becoming overwhelmed and confused, or even put your pension at risk. Using an expert to assist you will help keep you on track.
- Be sure to carefully read the terms and conditions as well as the Key Features and all documentation before you proceed with a SIPP structure.
- Always seek low-cost investment strategies. This may help with the overall performance of the SIPP, which can act as a defensive strategy.
- Keeping track on your investments regularly is crucial. Remember to consult your wealth manager if anything adverse starts happening to your SIPP.
SIPPs can be a great way to take control of your pension investment, but be sure that your SIPP is the right one for your circumstances.
Frozen Pension Review Service:
Please take advantage of a free, no obligation review with one of our recommended, independent pension advisers. During which they can discuss some of the various options open to you.