Adamski wrote:The most straight forward method of wealth preservation is savings in bank/building society, which now offer fixed rate returns of 5%. Interest rates are due to fall so this might be good time to lock on a good rate.
Unfortunately most of the 5% bank/building society savings accounts aren't offered for within a SIPP, which is what the OP has their funds to be preserved in, and on the flip side those that are may not be allowed by your SIPP provider.
There's a list of bank/building society savings accounts that are offered within a SIPP here: https://investmentsense.co.uk/accounts-for-pensions/
The best is a 1 year fixed from Metro at 5.46%. Unfortunately I couldn't find any list of which SIPP providers will allow it, or any other savings account.
This list shows how much which broker-type SIPP providers will pay in interest on cash in the SIPP. https://moneytothemasses.com/saving-for-your-future/investing/investment-platforms-paying-the-highest-interest-rate-on-cash
There's several around 3.5% +/- a bit, and BestInvest actually living up to their name (in this respect at least) offering 4.35%. But these are of course variable rate instant access deposits.