SIPPs bring on the cheer

It is twenty years since SIPPs were conceived by Nigel Lawson. From a very slow start, the growth in the number of individuals investing their retirement savings in a SIPP - either in part, or in total, has accelerated dramatically. Much of that growth has been brought about by favourable adjustments to the tax regime affecting SIPPs and other pensions. 1995 brought the introduction of income drawdown which really kick-started the interest in SIPPs. 2001 saw a more prescriptive legislative regime introduced for SIPPs - which somewhat perversely appeared to drive more interest. Pensions s...