ABI reports 10-fold rise in use of Sipps post-pension reforms
The number of savers using self-invested personal pension schemes (Sipps) has increased 10-fold in recent years, data from the Association of British Insurers shows.
Figures for 2015 show that 1.7 million Sipps were sold compared to just 150,319 in 2011. With the pension freedoms came into force in April 2014, the number of Sipps being bought nearly trebled between 2014 and 2015 alone, with 607,744 sold in 2014. Please link to International Adviser to read the full article by Monira Matin.