How to get the best returns on your SIPP/SSAS cash

18th May 2018

At Savings Champion, we help many clients find the right home for their hard-earned savings, through our Cash Advice Service.

Increasingly, we are being asked about what can be done regarding the poor cash options available on SIPP and SSAS pension funds.

It is an area that is gaining more and more focus amongst investors.

Savings Champion is an independent source of information, with the expertise to advise clients on the best rates available for cash in SIPPS and SSAS. This can be vital, as unfortunately not all providers make it clear which accounts accept these types of fund – if at all.

Savings Champion specialises in cash savings and as such is not a pension or investment adviser – so we only advise on the best cash rates available for SIPP/SSAS arrangements and therefore are able to help clients make significant improvements in their returns.

Our service bridges a very important gap, as we can act as a middleman between the client and the administrator. We advise on the best rates and the administrator executes.

We can help simplify and explain a range of queries and misconceptions that exist surrounding cash savings accounts, such as;

  • How to make sure the money deposited in cash savings accounts is protected under the Financial Services Compensation Scheme (FSCS).
  • How to avoid accounts which offer minimal rates of interest - sometimes as low as 0.00%.
  • The opportunities for locking money away in longer term savings accounts to achieve much higher rates of interest.

Should you choose to deposit money into cash savings accounts, we can suggest cash portfolios to allow funds to be available at the right times and ensure it is protected under FSCS, whilst also increasing returns - by more than double in most cases.

Once the portfolio is agreed and set up, we can then act on matters as they arise.

This could require an annual ‘Health Check’ where we focus on specific issues, but there is also often the requirement for Savings Champion to offer ongoing support to both the client and Financial Adviser, if necessary

Not all savings providers will accept SIPP/SSAS funds and many do not offer competitive rates. We have recently seen banks close SIPP/SSAS accounts and help clients move to new providers, so it appears to be an area of the cash market where clients are not getting the support they need.

Please contact the Cash Advice team on 0800 011 9705 if you would like to find out more about how we can assist with your SIPP/SSAS cash.


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