Group SIPPs are the future of pensions January 30th, 2008
GlaxoSmithKline (GSK) is leading the charge of FTSE companies in the pension stakes. It is the first to offer employees a group option for self invested personal pensions (SIPPs). The move comes as employees are looking to have a greater say in how their pension is invested and are keen to broaden the spread of investments. SIPPs can invest in a wide variety of investments from shares to listed hedge funds to commercial property.
Brokers and pension providers believe group SIPPs represent the future for pensions and up to half of FTSE 100 companies could have such schemes available to employees in the next five years.
