Glossary

A Self-Invested Personal Pension (SIPP) is a type of personal pension scheme in the UK that allows individuals to make their own investment decisions for their retirement savings. 💼

SIPPs offer a wide range of investment options, including stocks, bonds, funds, and commercial property, giving investors more control and flexibility over their pension investments.

Example: Hargreaves Lansdown, is one of the UK-based financial services companies, that offers a SIPP account that allows investors to choose from a wide variety of investment options to build their retirement portfolio.

Fun fact: SIPPs were introduced in the UK in 1989 to cater to individuals who wanted more control over their pension investments. They've since become increasingly popular, with many investors taking advantage of the freedom to invest in a diverse range of assets. ⚖️