Standard Life, Winterthur Life, Carr Sheppards Crosthwaite, Greyfriars Asset Management, Skandia and James Hay have all been named the best providers of self-invested personal pensions, according to a recent survey conducted by independent analyst Defaqto.

The survey looked at various criteria including charges, flexibility, the number of features offered and service provided.

SIPPs are probably the fastest growing financial product available today, said Matt Ward, Defaqtos head of pensions and author of the report. Where once SIPPs were niche products they have now become centre stage and understanding them and their marketplace is essential for everyone involved in pensions, Ward added.