Could Sipps encourage pension transfer?
02-09-2010 10:55
Pension fund transfer, pension transfer advice
An expert's advise to approach younger workers with Self-invested Personal Pensions (Sipps) options could boost pension fund transfer.
The plan to target workers aged between 35 to 45 years has been proposed by long-term savings and investment company, Standard Life.
Andrew Tully, senior pensions policy manager for Standard Life, said: "There is a big opportunity for the industry to take Sipps from where they currently are, the 45-year-olds plus, where most of the money is, to those who are 35 to 45-years-old, to encourage them into the savings habit."
He pointed out that the best features of Sipps was the flexibility it gave savers to control and monitor their investments as well as how they contribute or withdraw funds.
Mr Tully added that Sipps were increasingly being taken up by corporate houses and were being used by company executives to encourage self-investment among staff, which could lead to more people seeking out pension transfer advice.
Pension fund transfer advice from Ashall Glover Financial Services
