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open a SIPP at 69yrs with £2880 a year, worth doing?

shaz4473 · 2020-12-29 11:24:32

Hoping to get some easy to understand advice as I am looking at my mums finances with her over the holidays (not much else to do!!) and I have a SIPP (age 47) and wonder if it is worth my mum opening one? She is retired, aged 69 and has income from a state pension of around £500 per month. She also has a personal pension…

Comments

bermudianmark Posts: 78 Forumite

31 December 2020 at 4:59PM

Another factor favouring a SIPP is that the current CGT allowance is likely to be cut back significantly if like me you are close to retirement age then putting funds into a SIPP is a great way to avoid CGT and get tax relief.

Travel lover, family man and some other stuff..
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