Diversified schemes top Sipp investment league
When it comes to investing in personal pension products, diversified schemes are the most popular among UK consumers, according to figures recently compiled by James Hay.
Self invested personal pension (Sipp) research carried out by the financial services firm found that trustee investment plans, unit trusts and investment bonds are the three most popular Sipps on the market.
Meanwhile, around 11 per cent of the Sipp sector in the UK is made up of stocks and shares assets, while six per cent is comprised of property investments, the latest data from James Hay reveals.
Chris Smeaton, propositions and e-commerce manager at James Hay, said: "This research shows a fascinating insight into which investments Sipp investors are using to fund their retirement.
"Given that Sipps offer the greatest range of investment options, this gives a whole of market view of the most popular asset types, stocks, unit trusts and pension funds."
Figures from Scottish Widows earlier this year suggested that the majority of British consumers face poverty during retirement due to a lack of savings and investment provisions.
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