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Savings Account within a SIPP
dombarker75
Posts: 10 Forumite
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?
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?
0
Comments
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Ah sorry folks, I didn't realise there was a separate pensions forum, should have put it there.0
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