Research finds Sipps more popular with men
Those thinking about taking out a self-invested personal pension (Sipp) might be interested to hear that the savings vehicle tends to be more popular with men, according to new research.
Using its own records, Sipp provider James Hay discovered that 85 per cent of its Sipps are taken out by male customers compared to 15 per cent by females.
Chris Smeaton, propositions and e-commerce manager at James Hay, said the figures were "surprising" and showed a clear gap between the sexes when it came to Sipps.
"Despite well-documented evidence around women taking pensions breaks to have children and gender income differentials, the gender gap is huge," he remarked.
Mr Smeaton suggested that fewer women may be choosing Sipps because they tend to have smaller pension pots than males and do not always consider a Sipp as a worthwhile option.
It is widely thought that the pensions industry will be transformed in 2012 with the planned implementation of the opt-out personal accounts scheme.
Related Stories
This news is available in 