Savings Account within a SIPP

dombarker75

Is this still a thing?

I have a one year window to deposit a chunk into a SIPP, however I'm not really inclined to invest in equities at the moment, on account of my inexperience and general negative view of market conditions. I have an old workplace pension that seems to be doing nothing and deposited a small amount in a managed vanguard SIPP that is faring equally poorly albeit on a short time frame.

What I would like to do is deposit to a SIPP, collect the tax bonus and then park the funds in a basic savings account within the SIPP, taking advantage of the relatively good interest rates for the next 12 months or so. The plan being to educate myself a little during this time then move the money into equities when I feel a little more confident and market conditions appear more favourable.

A quick google found a little information from 10 years or so ago but nothing really up to date and relevant. Is this still something that is possible to do within a SIPP? Or is their another vehicle within a SIPP wrapper that offers low risk 4%ish returns that could be an alternative?

dombarker75

Ah sorry folks, I didn't realise there was a separate pensions forum, should have put it there.