Self sufficiency
Article Abstract:
United Kingdom self invested personal pensions (Sipps) were created in 1989 by Nigel Lawson, who was chancellor at that time. The Sipps market initially grew slowly, but expanded more rapidly after 1995 when income drawdown was introduced. The baby boomers are nearing retirement in the UK and are saving more for their retirements, and this demographic factor has also boosted the Sipps market. Sipps can be used by company directors to purchase commercial real estate to be used as offices for their own use.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1998
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Investments for the young
Article Abstract:
Young people need to save for a pension since state provision will be insufficient to cover their needs when they retire. Private pension providers are becoming more flexible, since employment has become less stable. The first task of university graduates is to pay off their debts, and their next task is to save for a pension. Company pension schemes usually offer better value than private schemes. Pensions offer tax advantages, and there are other savings vehicles with tax advantages.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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