Self invested personal pensions started in 1999 as a product available to UK consumers. The Self-Invested Personal Pension (SIPP) is essentially a pension wrapper that is capable of holding investments and providing you with tax efficient savings for when you retire. As a form of personal pension scheme they differ in several ways from a standard Personal Pension product. Presently, there are over 600,000 SIPPS in force in the UK. Anyone is eligible to have one, even Children can benefit from receiving Tax Relief.