The new GSipp is set to become the first choice among money-purchase employer pensions. So is it the end for the GPP?
Sipps are now firmly on the wealth manager's radar. Or if they are not, they should be. Senior employees, no longer part of the great final-salary-scheme generations, look towards Sipps as a home for tax relief from substantial bonuses and to park employer contributions as part of their retirement planning. Money-purchase pensions have become of far more interest to the investment and wealth manager than a few quid shoved into an additional voluntary contribution (AVC) or personal pension. Sipps provide choice and the prospect of discretionary management. But this is not a new story. The ...
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