What the experts say about Sipps
Take advice, shop around and don't get carried away with the idea that you are about to enjoy a free lunch.
Although advertisements for Sipps are springing up almost everywhere, most experts recommend great caution before proceeding and emphasise that Sipps will not be suitable for a large number of people.
The best advice is to take advice and to think carefully about your personal circumstances before investing in a Sipp.
It might well be that the less exciting traditional pension funds might be more suited to your needs, however tempting it is to go for the option of a Sipp.
The final cautionary note from the experts is to point out that until at least 2007, the Sipp market is not going to be regulated. That means that as well as the many reputable firms entering the market, there may be others whose advice on Sipps will not be so reliable and could expose investors to big losses in the future.
You have been warned !
What do the experts say?
|
