Better Business: SIPPs Room 101

October saw the 20th anniversary of the ffective birth of Self Investment Personal Pensions (SIPPs). It was in October 1989 that the SFO (Superannuation Funds Office, now part of HMRC) published the first guidance on SIPPs, following their launch in Nigel Lawson's 1989 budget. Memorandum 101 set out the broad taxation framework for SIPPs and the investments that would be allowed. Although there was little detail in the memorandum, it remained the only real legislative guidance on SIPPs for more than 10 years. It was a great example of what pension simplification could have achieved...