Many residents in Winchester and Hampshire are unsure whether a personal pension or a Self-Invested Personal Pension (SIPP) is the better option for their retirement. Understanding the key differences can help you make an informed decision.
What Is a Personal Pension
A personal pension is a simple and flexible way to save for retirement. Your provider manages the investments for you, making it a good choice if you prefer a hands-off approach.
What Is a SIPP
A SIPP offers greater control and flexibility. You choose your own investments, which can include stocks, funds, commercial property and more. SIPPs suit those who want more control and understand investment risks.
Which Is Right for You
Choose a personal pension if you want:
- Low maintenance
- Professional fund management
- A simpler approach
Choose a SIPP if you want:
- Full control of investments
- Wider investment choice
- Hands-on involvement
Local Guidance in Hampshire
A professional pension advisor in Winchester can assess your goals, risk level and future plans to recommend the most suitable option.
Get personalised advice
Book a consultation today to find out whether a personal pension or SIPP is the best choice for your future.
