Personal pensions that allow the individual to select where his contributions, within limits, should be invested. The investment opportunities include stocks and shares, unit and investment trusts, insurance company funds, deposit accounts and commercial property. Certain investments (e.g. works of art) are prohibited. Individuals must have net relevant earnings and will receive tax relief on contributions at the highest marginal rate. Group arrangements are common. SIPPs are offered by insurance companies and stockbrokers. See SELFINVESTMENT.