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Question: I have a PPP. I've been told I should get a SIPP. What's the difference?
Abridged Answer:
Both are UK pension plans. Both are regulated by HMRC rules. PPP = Personal Pension Plan. Funds invested by plan provider. SIPP = Self Invested Personal Pension. Has same rules as PPP, but you invest the funds. SIPP can invest in anything allowed by HMRC rules. Provides more investment options, more choice. SIPP gives you full control over where your money is invested. A lot of people use SIPP as a tax effecient way of investing in property.
