A Self Invested Personal Pension (SIPP) is a scheme that gives you a higher level of control over your own pension. This means you get access to more choices on where you can invest your retirement fund, allowing you to manage your own investments and savings, rather than relying on a pension company or fund manager. The appeal of such a scheme is clear, but the risks associated with it are sometimes not made obvious to investors.
Mis-sold SIPPs have become the subject of an increasing number of complaints made to the Financial Ombudsman Service (FOS) and the Financial Services Compensation Scheme (FSCS).