Apr 18 2008
Financial advisors are becoming increasingly engaged with self-invested personal pensions (Sipps) in the UK, it has been revealed.
A report from retirement saving financial services firm LV= has suggested that the changes to the pension system introduced on A-Day two years ago has boosted the popularity of Sipps across the country.
In fact, a quarter of the advisors polled recently by LV= said that they had seen an increase in the scale of their Sipp activities over the course of the past 12 months and one in ten indicated that this rise had been considerable.
"It is certainly encouraging to see an increase in the interest in Sipps shown by advisers, especially as there had been some concerns that not enough advisers were exploring the Sipp options with their clients," said Ray Chinn, head of pensions at LV=.
Meanwhile, Nationwide Building Society recently urged prospective pensioners in the UK to seek out appropriate advice if they are confused about how best to accumulate assets via an individual savings account.
