Searching for the best SIPP (Self Invested Personal Pension) is easier when you know what you are looking for. When searching for a low cost SIPP, the best SIPP often depends on a number of variables. These variables related to the size of your pension, the frequency of trades you will conduct and whether you are investing in funds or shares. Therefore, here are Investo”s tips when trying to find the best SIPP:
Understand the charges
Charges related to finding the best SIPP include set-up fees or annual fees, as well as charges depending on share or fund dealing. Other charges to look out for include transfers in, potential exit charges as well as contributions. Likewise, look out for the charges associated with containing funds and shares within your SIPP, depending on which you opt for.
Make a choice depending on your circumstances
A low management choice may sound appealing, although if you are expected to trade regularly, then you should also factor in how associated dealing costs can add up. There are many providers out there, and it is important to short-list a few providers before coming to a decision based on which SIPP will prove most cost effective for your personal circumstance.