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  • #1

    Concern grows over 'mis-sold' Sipp pensions

    Many pension savers are paying over the odds for do-it-yourself pensions they don't need, it has been suggested.

    There are concerns that a significant number of investors with a self-invested personal pension (Sipp) may have been mis-sold these plans, as they may be paying over the odds for a product they do not need. According to new research from Skandia, a pension provider, one in four Sipp investors has the vast majority (more than 90pc) of his or her investment in unit trusts or Oeics (open-ended investment companies). In many cases they would be able to invest in a range of these funds through a conventional personal pension – which uses a online "platform" to access different funds – at a much lower cost.....Read more here---: Concern grows over 'mis-sold' Sipp pensions - allaboutFORUMS
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    Tags: companies, debt, family, finance, funds, investment, investors, mis-sold, money, online, pension, pensions, people, personal, property, purchase, savers, small, telegraph, trusts
  • #2
    Re: Concern grows over 'mis-sold' Sipp pensions

    In my view most SIPP's and SASS where sold as what I would call vanity perchases, in the same way you can buy a skoda to get around in but would buy a BMW becuase it's better!!!!

    They do have their place mainly in commercial property purchase and for small family/limited company pension planning but apart from that they are a waste of time and money, becuase most people dont use the option they give them.

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