Baby boomers should consider pensions move

The firm says investors wishing to maximise their retirement pot should make sure they effectively use all available tax benefits. Malcolm Cuthbert, managing director of financial planning at Killik & Co, says: “There has long been a debate about what is more tax efficient, PEP and ISAs or SIPPs and pensions, but in reality there is no reason why you shouldn’t have both and move from one to the other when it benefits you most. “We encourage our clients to use their yearly ISA allowance but for some investors it may be beneficial to transfer existing PEP and ISA savings into a SIPP particu...