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SIPP deposit interest rates fall by up to 69%

SIPP deposit interest rates fall by up to 69%Ever since we launched our website way back in 2010, we’ve been known for publishing a best buy table for SIPP deposit accounts. In fact, seven years on, it’s still the most popular page on our website. Over the years, we’ve seen many changes in the SIPP market. But, falling interest rates and a contraction in the number of banks and building societies offering deposit accounts for SIPPs, have been constant themes. We thought it would be interesting to review the history of interest rates ...

Why SIPP cash savers are facing a perfect storm

There’s no getting away from it, over the past few years, since the financial crisis of 2008, life has been hard for savers. Government and Bank of England policy has mean that interest rates have hit record lows and show no sign of increasing, whilst inflation has been a constant concern, threatening hopes of ‘real’ returns. It is often said that it is hard for savers to become investors, usually because they can’t accept the risk to their capital investing brings. This probably explains why so many savers have continued to keep ...

SIPPs: New deposit account for SIPPs to be launched

Coming Soon Green Road SignIf you are one of those people who hold deposit accounts in your SIPP (Self-Invested Personal Pension) you have our sympathy, the past few years have been frustrating. Not only have you had to contend with low interest rates, but the number of banks and building societies willing to accept deposit account applications from SIPPs has slowly dwindled. Finally, the FCA’s (Financial Conduct Authority) decision to review how fixed term deposits are categorised has caused number of SIPP providers to restrict or ban the holding of deposit ...

SIPPs: 3 questions to ask your provider now, if you hold cash savings accounts

3 questions to ask your provider now, if you hold cash savings accounts 150pxDespite low interest rates showing no sign of increasing, holding deposit accounts in a SIPP (Self-Invested Personal Pension) is still a popular option for any people. The fact inflation remains low, stock markets are still relatively volatile and Pension Freedom mean more people are taking money out of their pension, often in tranches to stay out of higher rate tax, are all contributory factors to the on-going popularity of this option. However, mainly due to changes to relatively obscure rules, ...