Abstracts » Business

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.

Investments

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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.

Personal Financial Mgmt

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