A SIPP – Self Invested Personal Pension – is a type of pension plan where you can choose where your money is invested, rather than more conventional schemes where a fund manager invests it for you. You retain total control.

A SIPP is a defined contribution pension scheme (also known as a “Money Purchase Scheme”). The amount of pension that is paid out to the individual on retirement is dependent on the total value of money that has accrued during the lifetime of the plan.

As with all pensions, you get income tax relief at your highest rate for all your contributions, so that a higher rate taxpayer could invest £10,000 and get a tax rebate of £4,000, meaning that the investment of £10,000 has only cost them £6,000. But all earnings within the fund are based on a £10,000 investment.

Alternative Investments (such as the opportunity offered here) are generally acceptable to HMRC for inclusion in a SIPP. This can boost your earnings and help you grow your pension pot.