How does it compare?
How does the BrilliantWithMoney SIPP compare with others?
There are really three different types of private pension plan and they are Self Invested Personal Pensions (SIPPs) Personal Pension Plans (PPPs) and Stakeholder Pension Plans (SHPs). Essentially they all have one objective and that is to provide tax efficient retirement benefits.
Each is subject to exactly the same contribution rules, the same rules about when you can access the benefits, the same taxation benefits, and the same ultimate benefit rules.
So how do they differ?
The most significant difference is the degree of investment choice and control that is available to the plan holder. And even here it is quite confusing because some PPPs have a very wide choice of investment funds to which contributions can be linked. Some SHPs have a pretty wide investment choice and some SIPPs have a quite limited investment range.
At BrilliantWithMoney we are not precious about the title that is used to describe the pension plan that we offer to our clients but it is labelled a SIPP. The other thing that differentiates these plans are the charges that apply and yet it is perfectly possible to find a SIPP that is cheaper than a PPP and indeed cheaper than a SHP!!
What we think matters is not price but value for money.
If you want wide investment choice, valuations online and to cut out the middleman then an online SIPP such as the one from BrilliantWithMoney may well be the right choice for you.
