A pensions provider is offering policyholders the opportunity to invest assets into a Self-Invested Personal Pension (Sipp) after A-Day.
Winterthur Life's Personal Pension will act as a standard policy until a customer builds up enough funds, or their circumstances change, to allow self-investment. The pension would then effectively change to a Sipp.
The pension gives access to 75 pension funds. Clients who wish to invest post-A-Day can inform the company of the pension fund they would like to invest in through a simple form. The company also offers free IFA support online.
Mike Morrison, pensions strategy manager at Winterthur Life, said: "The fast track to self-investment is ideal for clients who would like to invest in Winterthur's range of Tailored Selection funds, but want the flexibility to transfer to a self investment with a wider investment choice post A-Day."
"The likely types of client who will be looking at this are those with accrued pension funds of a reasonable size, who may wish to consolidate them into a Sipp at a later stage, and those who are likely to take their pensions benefits in Income Drawdown," he added.
A-Day, or April 6th 2006, signifies the date on which laws pension regulations will change. This will include the chance to make unusual investments into a Sipp, such as a buy-to-let property.
Pension fund provider offers fast-track options
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Pension fund provider offers fast-track options
Fri, 30 Sep 2005
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