Is a SIPP suitable for me?
You should only consider opening up a Sipp if you have the experience of investing and are completely comfortable making your own decisions. Some investments that you can place in a Sipp are risky, and may not be suitable for you.
If you don’t have experience, a stakeholder or personal pension may be more suitable for you. You’ll may have a more limited choice of investments, but you could choose a fund that has a range of assets in it, rather than picking your own.
Sipps can also be very expensive, and their charges could eat into your returns if you only have a small amount invested. That’s why Sipps are more suitable for people with larger amounts of savings.