Winterthur launches flexible Sipp

Winterthur Life UK has today launched a flexible Self invested personal pension (Sipp) in anticipation of the new A-Day rules due to come into force next year.

The product will have the ability to adapt after A-Day according to the provider, in order to accept a wider range of possible investments. It is also being made available on an adviser only basis.

Winterthur says remote control is the main selling point of the product with online and telephone access to consolidated valuations and fund supermarket for intermediaries provided, as well as access to client transaction histories.

Angela Baskeyfield, head of product marketing at Winterthur Life UK, says the changes to pensions following A-Day will increase the appeal of Sipps citing recent research from consultancy firm Jardine Lloyd Thompson which claims the Sipp market will grow to 2 million post A-Day.

“Their broad appeal is self-evident as they allow investors to take greater control over their retirement investments by allowing them to invest in a variety of permitted investments while still getting the tax benefits attached to a pension,” she adds.

The new rules, due to come into force on 6 April 2005, are expected to allow investments in equities, collective investments, other insurance company funds, commercial and residential property and some more esoteric investments.

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