According to the Motley Fool.
Please don’t trust the Motley Fool as a single source. At some point they have recommended every stock and index in the universe.
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Don’t worry, I use various sources, that was just an example and perhaps I shouldn’t have mentioned it. 
Thanks 
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According to people that seem to know what they are talking about, you could open both to reap maximum benefits.
Am looking to exit my SIPP with Quilter as the charges are daylight robbery and the performance is non-existent as a result.
Any suggestions for a good one? Ideally I’d take out my existing one and put it in as a lump sum with monthly contributions, but then have it in the name of my wife as I am hitting my pension contribution threshold.
A lifetime ISA is where you get 20% bonus for saving towards a first home. It’s valid to age 60.
A SIPP gives you 20% bonus for your retirement.
It’s also worth add that with a Stocks and shares ISA, you can save tax on any money made, so if you put in £100 and earn £20 on the stock market, you don’t pay any tax on it when you withdraw!
I can recommend Vanguard. Low fees and very reputable. 
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Whereas with a pension, you save the income tax when you put it in but you will pay income tax when you receive it!
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True, however you are able to take a tax-free lump sum - 25%, I think?
And hopefully… The 20% they added will have earned a bit over the long-term, which will make up for the tax. I guess it depends how much the pot grows to as to how much tax is paid on the remaining 75%…
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@IsabellaBear, I agree. It is based on the idea that the extra “upaid tax” that you put in will accrue value for you and that your income when you retire tends to be lower than when you are working so your marginal rate is lower and you end up paying less tax. As you say, I also understand that the first 25% is tax free.
It also works out well for the government because it means that more future pensioners will not rely exclusively on their government pension based on National Insurance contributions, which is very low and it encourages workers to have a bigger private pension to supplement the government one.
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