Looking for your advice/opinon if you were in my "shoe" or in a similar situation.
I'm 46 and have taken voluntary redundancy and IMO got a good pay off, I've paid into a company pension for 28 1/2 years but I believe I still needed to pay in another 11 1/2 years to get a company pension of £25k PA.
I know a stock & share ISA is a good tax free wrapper and I can "cash out" anytime I want, and I know that the government will top up a SIPP by 20% but can not withdraw from the SIPP until I'm 55. As I'm unemployed and not currently paying into pension anymore, should I put my money (max yearly allowance) into a stock/share ISA or into a SIPP?
I'm 46 and have taken voluntary redundancy and IMO got a good pay off, I've paid into a company pension for 28 1/2 years but I believe I still needed to pay in another 11 1/2 years to get a company pension of £25k PA.
I know a stock & share ISA is a good tax free wrapper and I can "cash out" anytime I want, and I know that the government will top up a SIPP by 20% but can not withdraw from the SIPP until I'm 55. As I'm unemployed and not currently paying into pension anymore, should I put my money (max yearly allowance) into a stock/share ISA or into a SIPP?
