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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…

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