Pension News SIPPs Will Be New Preferred Pensions Choice Say Advisers
13 April 2006
The UK’s leading investment platform, Fidelity FundsNetwork, has released figures suggesting that Self Invested Personal Pensions (SIPPs) are set to grow in popularity by over 50 per cent, according to more than half of the UK’s advisers.
As a result of the A-Day changes that came into effect on April 6th this year, FundsNetwork has said that the renewed flexibility of pension plans will encourage more people to invest in a personal, private platform for their retirement.
Nearly eight in ten of the advisers questioned expect their future retirement business to be supported by an all-encompassing investment platform.
The head of FundsNetwork, David Dalton-Brown, welcomed the findings: “It is encouraging that an overwhelming majority of advisers believe that they will use platforms for their retirement business in the future,” he said.
“This is due to the fact that platforms can support the detailed and flexible reporting they need, along with offering a range of product wrappers and investment options – all highlighted in our research as highly important.”
FundsNetwork’s research also highlighted the broader outlook to retirement saving that has been brought about by the recent changes in pension schemes and investment options.
ISAs, PEPs and Mutual Funds have all become more attractive prospects following the A-Day changes, according to advisers, with 83 per cent saying they would recommend investment in one of those options.