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What Are the Benefits of a SIPP?

Overview of the benefits of opening a Self-Invested Personal Pension (SIPP) with Yeeld

A Self-Invested Personal Pension (SIPP) is a type of personal pension plan that gives you greater control over your retirement savings.

Key Benefits of a SIPP:

  • Tax Relief on Contributions: You receive tax relief on the money you pay into your SIPP, which means your contributions can grow faster. The government tops up your contributions by 20% for basic-rate taxpayers, with higher-rate taxpayers able to claim back even more.

  • Flexible Investment Options: With a SIPP, you have more flexibility in choosing where to invest your money. You can select from a wide range of assets, such as stocks, bonds, and managed funds.

  • Potential for Higher Returns: The broader investment options available in a SIPP may provide opportunities for higher returns compared to traditional pension plans, although this also comes with higher risks.

  • Control Over Your Pension: You can actively manage your investments within the Yeeld app, allowing you to adjust your portfolio as needed to match your retirement goals.

A SIPP offers you control and flexibility in building a personalised pension plan that aligns with your retirement goals.