SIPP investors 'need to know source and rate of return'
www.moneynews.co.uk > Pensions > SIPP investors 'need to know source and rate of return'
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SIPP investors 'need to know source and rate of return'
Thu 16th Oct 2008
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SIPP provider firm James Hay has warned such investors to check which banks are holding the cash accounts for their providers.
Recent financial instability means that cash has become more crucial, the company explained.
Cash can provide more than 35 per cent of some SIPP portfolios, but investors may not know where the money is being held and whether they are getting the best possible rates.
Spokesperson Andy Pennie said SIPP investors could be missing out on £1,687 a year by receiving the lowest rates.
Earlier this month, James Hay, which is part of Abbey, added five new funds to its Collect SIPP platform.
This brought the total number of funds for Collect SIPPs to 1,032, from 45 different providers.
The James Hay Wrap funds total 1,379, from 58 different providers.
Related News : Pensions |
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Related News : Santander |
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