Make your money go further for just 25p per day

PREMIUM

SIPP vs LISA: what is the best method of saving for retirement?

Ticking clock and growing pile of money in pension pot

There have never been so many different methods of saving for retirement. The workplace pension might be past its heyday, but the plethora of personal pension options means there are plenty of opportunities for canny savers to bulk up their retirement pots. Get investing early and the power of compounding will do all the hard work for you. But which product is best if you are to boost your workplace pension or indeed managing their entirety of your pension pot: the SIPP or the LISA?


In the last few years, more and more Brits have decided to take control of their own pensions. Modern defined contribution schemes – which are not nearly as generous as the final salary defined benefit schemes which were prominent in the 1980s and 90s and became woefully unsustainable for employers – have taken the shine of the workplace pension, encouraging more employees to go it alone.

Technology has helped make the process easier. The pensions freedom act has made people feel more in control of their retirement savings. Strong market growth has highlighted the attractions of saving money in the stock market.

Time will tell whether these factors have combined to a create a nation more in control of their future finances or a generation who will enter retirement without enough money to last them the rest of their lives.

Avoiding the latter scenario should be easy for those who take a sensible approach to retirement saving – that is, start…

Continue reading this article…

Enjoy FREE access to the top news and insights from the investment world and our introductory finance guides.
  • Informative guides
  • Unique podcasts
  • Financial news and political insight
Gain access to all our excellent content for just £90 per year, that’s just 25p per day for financial freedom.
  • In depth coverage of many of the world’s great companies
  • Breaking news on potential upcoming disasters
  • Unique insights from our top research team

Have your say

Log in or register to view or add comments.

For access to the top news and insights from the investment world

REGISTER FREE TODAY

Become a Champion Investor for as little as £3.20 per report or get a year's worth of money-making analysis for just £90.

SUBSCRIBE NOW

More on AJ Bell

Reviewing the investment platforms

31/07/2019 · Money Management

Today, there are many different options for investors who are happy to go it alone, without…


SIPP vs LISA: what is the best method of saving for retirement?

18/07/2019 · Money Management

There have never been so many different methods of saving for retirement. The workplace pension might…


New Year, new you: profit from your resolutions

07/01/2019 · Investors Clinic
This January, thousands of us will drag ourselves into the gym, or spend our days craving…

More on Hargreaves Lansdown

St James’s Place: how long can the high fees continue?

01/08/2019 · News & Insights

On an annualised basis, total fee and commission income hit 2.3% of funds under management at…


Reviewing the investment platforms

31/07/2019 · Money Management

Today, there are many different options for investors who are happy to go it alone, without…


SIPP vs LISA: what is the best method of saving for retirement?

18/07/2019 · Money Management

There have never been so many different methods of saving for retirement. The workplace pension might…


More on IG Group

SIPP vs LISA: what is the best method of saving for retirement?

18/07/2019 · Money Management

There have never been so many different methods of saving for retirement. The workplace pension might…


Small Cap Review

26/07/2007 · Smallcap Review
It’s business as usual, James Halstead continues to shine in the gloom

More Money Management

Reviewing the investment platforms

31/07/2019 · AJ Bell · Hargreaves Lansdown

What is a yield curve inversion and why does it matter?

25/07/2019

Osaka 2019: 3 lessons from the G20 summit

02/07/2019