UK Sipp market to grow by £1.9bn a year

The UK self-invested personal pension (Sipp) market is expected to grow by £1.9bn a year to 2020 despite rising customer complaints, according to the latest research by GlobalData. GlobalData released a report on 10 July, titled UK Self-Invested Personal Pensions 2018, that revealed the UK Sipp market was worth £2.4bn in individual, new business annual premium equivalent across insured and non-insured products in 2017.

This figure shows the market has grown by 55% from £1.5bn in 2016.

Danielle Cripps, financial analyst at GlobalData, said it is further estimated the market will continue to grow by an average of £1.9bn ($2.5bn, €2.1bn) each year to 2020. Please link to International Adviser to read the full article by Tom Carnegie