Oct 22 2007
The EveryInvestor publication has made the case for why consumer should opt for a self invested personal pension (Sipp) scheme to ensure their own financial security during retirement.
According to the personal finance website, managed funds can be up to four times more expensive to sustain on an annual basis than investing via an online Sipp.
Moreover, Sipps can offer prospective retirees the flexibility to invest their funds in a balanced fashion that can lead to some attractive long-term growth prospects, EveryInvestor insists.
EveryInvestor's editor-in chief Chris Gilchrist commented: "DIY investors can slash annual costs to a minimum by using exchange trust funds in a Sipp or individual savings accounts (Isas).
"The historic data shows that over 15 years or more, very few active managers beat their benchmark indices, so investors using our tracker pension portfolio will probably end up with bigger retirement pots than most of those using active funds."
Record amounts were invested into Isas in the UK during the most recent tax year, according to official data from HM Revenues & Customs.
