The changing name of Sipps

Post A-Day will see the changing of the tax regime where all pensions will fall under one umbrella, namely a Registered Pension Scheme. Products including Self Invested Personal Pensions (Sipps) will be bracketed within the Registered Pension Scheme leading to possible confusion as to what people mean when referring to a ‘Sipp’ in the future, says Alasdair Buchanan, group head of communications at Scottish Life. Buchanan says: “At present, there are special rules for Sipps, so it is quite clear what people mean. Post A-day, there are no special rules - so every individual pension is the s...