Sipps 'for greater flexibility with private wealth'

Individuals with private wealth might have greater flexibility in retirement if they employ a self-invested pension plan (Sipp), it has been stated.

Andrew Tully, senior pensions policy manager at Standard Life, claimed people can enjoy "choice, flexibility and control" through the vehicles, which allow users to select from a number of different investments, unlike traditional pension schemes.

Those with private wealth could diversify their assets by choosing such a scheme, which is becoming increasingly popular among large companies like BT and KMPG.

Employing offshore banking or buying commodities such as gold can also provide a wide range of assets offering good returns, which might mean people are getting the most from their money throughout their lifetime.

Independent financial research group Defaqto recently published a free guide to Sipps, so those employing a professional to assist with wealth management may find they are better informed about the various options available for retirement planning.  ADNFCR-2318-ID-800049017-ADNFCR