SIPP sales record second consecutive year of growth

Latest figures mark highest total sales since 2018

Isabel Baxter
clock • 1 min read

Sales of self-invested personal pensions (SIPPs) recorded a second consecutive year of growth, according to Broadstone’s analysis of Financial Conduct Authority (FCA) data.

After falling to 740,410 in 2020, the research found that sales increased by 15% to 852,019 in 2021 and then by a further 5% annualised to reach 895,137 in 2022. This follows a downturn of SIPP sales during the pandemic, Broadstone noted. This latest figure marks the highest annual total of SIPP sales since 2018 when 947,900 were sold.  On a quarterly basis, Q1 2022 saw 240,903 SIPP sales - the highest total since Q4 2018 (240,940). Head of defined contribution workplace savings Damon Hopkins said: "For pension savers with the time and know-how to navigate the world of inves...

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