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Sipp Pensions

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I've already got a small amount of money saved away in a bog standard pension with one of the big Life Insurers but frankly don't feel comfortable trusting them to deliver a decent performance which will allow me to retire in relative comfort.

I've been looking at SIPP options which at least come A-day next tax year I can fund freely and into investments of my own choosing. I've been ready some investment theory which suggest that a diversified portfolio delivers better performance by investing in a range of assets: shares, unit trusts, bonds, gilts, commodities, gold and precious metals, property (eventually when prices have dropped) as some will always be going up while the others go down. The theory goes that in the long term (20 years +) they all go up in general if they are good quality investments so the diversification reduces the volatility and still gives good returns.

However the constant problem with investments seems to be how to reduce charges and deductions which have a significant impact on the return. The nature of SIPPs though appears to encourage higher charges as it is a specialist product and you have to set up a trust to manage the pension. Does anyone on here use a SIPP which they can recommend or know if there will be any new offerings come next year given that they will probably grow in interest come next April 2006?

The charges on most just seem too much. e.g. www.sippdeal.co.uk charge £15 just to receive a single payment into the fund then there are dealing charges on top of that! Are there cheaper options out there? Yes I have a Shares ISA but I really need to pay bigger contributions in as I expect I can only count on myself for a pension by the time I retire! :blink:

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Search for 'fund supermarket' and see where that gets you. They should, in theory, be cheaper, but I haven't done much research as of yet.

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