People saving in pension schemes could be able to top up their pensions with a self-invested personal pension . This type of pension scheme is regarded as being flexible, and gives the pension holder the chance to control their retirement pot.
The head of pensions policy at Standard Life, John Lawson, made it clear that pension savers topping up using Sipps was becoming more common. He reportedly said: "However, Sipps offer freedom of investment choice and control, and are a means of avoiding fund choices by trustees that investors may not like."
The head of pensions development at Aegon, Rachel Vahey, reportedly said: "The other reason you might want to set up a Sipp is to give more flexibility when it comes to how benefits are taken at retirement, such as putting off taking your pension to a later date."
Pension top ups with a SIPP
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