Sipp Providers Need to Simplify Charges

International Advisor – 29th June 2016

Providers of self-invested personal pension schemes (Sipps) need to simplify their charging structures to make it easier for financial advisers to compare products, experts in the industry have said.

It comes as new research from Momentum Pensions found 55% of advisers have been shocked in the past by Sipp providers who have levied charges they had not expected. Until recently, the firm solely provided offshore pensions in the form of qualifying recognised overseas pension schemes (Qrops) to expats around the world, but has since expanded with the launch of its first platform Sipp product aimed at the UK market.

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