|Investment Property Worldwide.com||
Hundreds of thousands of pension investors are earning little or no interest on cash held in their schemes – prompting advisers to suggest they seek better returns elsewhere.
Research has revealed that some of the country’s largest providers of self-invested personal pensions (Sipps) and small self-administered schemes (SSAS) are paying well below the Bank of England (BoE) base rate on cash deposits. Some providers have even lowered their rates while BoE rate has remained steady at 0.5 per cent for more than two years.
Aegon, one of the leading Sipp providers, is not paying any interest on its instant-access Sipp bank account, and has not done so since 2009.
James Hay’s Sipp account – which is offered to investors in its iSipp and JH Sipp & Wrap pensions and operated by Santander – is currently paying just 0.00001 per cent interest.
Hornbuckle Mitchell pays between 0.1 and 0.15 per cent depending how much cash is deposited.
If you have money earning little or no return take a look at the insured loan note opportunity paying 10% over 12 months or 24% over 2 years and can be invest in via a SIPP - LINK
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