Sipp or Cash ISA ?

UncleJerry

Aged 63 so do I need a Sipp or should I just hold Fixed Rate ISA`s
I dont need to access the money at this point.

dunstonh

Aged 63 so do I need a Sipp or should I just hold Fixed Rate ISA`s

A SIPP is a type of pension.  So, your questions is really pension or fixed term deposit ISA.

However, they are very different in what they achieve.   The cash ISA is 100% deposit based and good for short term money.   Pensions are a tax wrapper that can contain over 30,000 different investments.   

I dont need to access the money at this point.

When you do you need it?

Albermarle

You posted this in the savings forum and a poster advised you to move it here, which is fine.

However the poster @Linton, already asked a number of questions as below, which you need to answer before any sensible advice/guidance can be given e.g.

To get a clearer understanding of your situation:  what are your plans for financing retirement? Are you still working?  If so are you in your employers pension scheme? What savings/pensions/investments do you hold?  Are they tax protected?  Where will your income come from? Hoiw much money do you want to save/invest?