Which? Could a DIY pension help to boost your retirement savings?
Jun 5, 2025
Tom Selby, Director of Public Policy at AJ Bell, and Paul Davies, Which? Money's pension expert, delve into the world of self-invested personal pensions (SIPs). They break down the advantages of SIPs, including greater control and flexibility over retirement savings. The discussion highlights the importance of strategic planning and the benefits of consolidating multiple pension pots. Listeners learn how to select the best SIP providers and why SIPs are gaining popularity, especially among self-employed individuals.
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Investment Control via SIPPs
- Most workplace pensions use default funds which don't allow much personal investment choice.
- SIPPs provide vast investment choices including funds, shares, bonds, and ETFs for those wanting more control.
Time and Effort to Manage SIPP
- Setting up a SIPP is simple but managing investments varies by involvement level.
- In retirement, active engagement with your pension income and investments is essential to avoid running out of money.
Use Ready-Made Investment Portfolios
- Many SIP providers offer ready-made portfolios tailored by age, risk, and retirement goals.
- These help simplify investing for those who want a SIP but prefer guidance over picking individual funds.