A beginner's guide to sorting out your pension if you’re self employed.
If you work for yourself you will have to sort out your own private pension. What are the options and where do you start?
I wrote this article because SavvyWoman user got in touch to say that she was self employed and wanted to sort out her pension, but didn’t know where to start. And I'm sure she's not alone. If you're employed, the pension choice is more straightforward than if you work for yourself. But that doesn't mean you shouldn't bother saving for your retirement. So where should you start?
The FSA is warning people about the risk of unregulated investments in self invested personal pensions or SIPPs.
How to avoid risky investments if you have a SIPP.
Mexican golf courses, Bulgarian forests and country clubs may not seem like your average pension fund, but that’s what the regulator the Financial Services Authority is warning that some people may have invested their pension money in through self invested personal pensions (or SIPPs). SIPPs give you much more freedom about what you invest your money in than ordinary private pensions, but the FSA is concerned that some people could be taking huge risks without realising it.
Self invested personal pensions (SIPPs) – is the DIY approach the right one for your pension?
Choosing a self invested personal pension (SIPP); what to look for and how much to pay for one.
Most people who have a private pension pay money to a pension or insurance company each month and that company invests their premiums for them. OK, so you can choose which fund or funds your money is invested in, but what makes up that fund is down to the pension company. With a self invested personal pension or SIPP, you have control over where your money goes and you can invest your pension money in a much wider range of investments, including shares, hundreds of different investment funds and even property.