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Monday, 28th September 2009 (3559 views)

Gold is proving to be a popular investment choice when it comes to self-invested personal pensions (Sipps).

This is according to Daniel Fisher, representative of Physical Gold, who spoke to the Times about the precious metal's potential.

In the UK, pensions rules were adapted in 2006, enabling investors to put a more diverse range of items in their Sipps.

As a result, an increasing number of people are putting in gold bars, which is the only form of the yellow metal permitted in the pension pots, Mr Fisher pointed out.

This could be because it receives a total 40 per cent tax relief at purchase and in filing tax returns.

"Most people took advantage of the rule changes by investing in commercial property," he said. "However, gold is now becoming an increasingly popular alternative."

This comes as Michael Williams, an insurance adviser, decided to invest one-tenth of his retirement fund in gold bullion, the Financial Mail reports.

Mr Williams claimed gold seemed like a "safe haven" in the "uncertain" economic climate, leading him to boost his underperforming pension policies by investing the precious metal in a Sipp.

 

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