What is a SIPP?
SIPP stands for self-invested personal pension. A SIPP is a defined contribution pension that allows you greater freedom to choose where your funds are invested.
Your Penny Pension is a Personal Pension, like a SIPP, you can choose your own investments. We have 6 funds you can pick from that are made up of conventional investment products managed by large, trusted FCA-regulated institutional investors, HSBC and Vanguard.📈
A SIPP would offer a wider choice of funds, fund splits, other investment products, and unconventional investments in your pension. A SIPP would be a more suitable product for a sophisticated investor who is receiving financial advice.
At Penny, we aim to give you a range of choices to match your risk appetite while keeping the options simple to make your pension easy to manage. Unless you switch funds, you’ll be invested in the HSBC Global Strategy Balanced Plan, with a medium risk level aimed at steady growth. This means you can build for a healthy retirement with minimal management required from you, if you wish. 🧓