Clients boost cash in SIPPs

In the past 12 months, over half of pension administrators surveyed say clients increased the cash allocation of their SIPP. Almost a quarter of those surveyed say they witnessed a cash boost of up to 25% among their clients while a further 13% said it reached as high as 26-50%. Regardless of the size of the deposits, over a quarter of administrators say their clients receive less than 1% on the cash element of their SIPPs, while around 13% say their clients' money earns over 2% interest. Lionel Ross, of Investec Private Bank, says the cash interest rates on most SIPP accounts will...