Self-Invested Personal Pensions

Self-Invested Personal Pensions, better known as SIPPs, are a pension investment product designed to offer a “better” freedoms and potential returns than standard pensions or investment funds. You use your pension ‘pot’ to make a series of investments into a number of funds that would usually not be available to an unsophisticated investor. Over time, the value of the funds should increase, giving you a healthier return to fund your retirement.

A Pension SIPP is a complex investment, only sophisticated investors understand the market well enough to feel confident investing pension funds into these products. Using a financial advisor to receive advice on investing in a “Self” Invested Personal Pensions is quite the contradiction.

SIPPs can be incredibly risky, the investment included within your SIPP may be unregulated or illiquid (meaning once invested, it is tied up), it is for these reasons that SIPPs should be reserved for those with expertise in financial investments.

If you’ve been paying into a SIPP or other pension that has been managed by your financial advisor, and you’ve lost money, you may be able to make a mis-sold SIPP claim.

  • Were the risks fully explained to you?

  • Were there certain risks attached to your SIPP that were not explained when you agreed to invest?

  • Was the SIPP investment an unsuitable scheme?

  • Despite is not being suitable to your own needs, were you advised to move your existing private pension fund to a new, higher return scheme?

  • Were there unexplained fees?

  • Were there any additional costs and/or surprise fees attached to the SIPP investment that you weren’t made aware of from the start?

  • Pressure selling

  • At the time of taking your SIPP pension did you feel pressured into moving your pension into something you did not actually need or want?

  • Did you lose your investment?

  • Have you made significant financial losses as a direct result of any of the above issues?

  • In some instances, we have also seen examples of SIPP fund managers working with unregulated third parties. If your investments are being managed by an unregulated third party, you’ve no control over where your money is invested, and how risky those investments are.