A Self-Invested Personal Pension which is a tax-free wrapper that holds investments until you retire and start taking money from your pension pot.

The difference between a standard pension plan and a SIPP is that you have more flexibility in being able to decide where your money is invested.

A SIPP is a UK based pension plan, and regardless of where you are based, it is regulated by UK law. You can make use of a SIPP no matter where you live in the world.

You can start taking benefits from the age of 55, even if you are still working, and you can decide how much or how little income you would like to take from your pension pot as well as deciding if you would like to stop and start as you go.

You can withdraw up to 25% of your total pension pot as a tax-free lump sum.

SIPPs are great products for individuals who intend to retire in the UK or are intending to live in a country that has a double-taxation agreement with the UK.