Suffolk Life pools protected and non protected rights in Sipp

7 April 2010 10:41 am | By Helen Pow

The firm says the move brings a host of benefits to advisers and investors, including no additional charges for protected rights when combined with non protected rights, including entering unsecured income and ASP and wider investment choice for protected rights.

Suffolk Life says it also spells simplified applications and administration for investment managers, platforms and execution only brokers.

MasterSIPP allowed protected rights to be invested in a variety of assets, including commercial property when it launched in October 2007.

A year later the Government removed the need for protected rights to be held within a contract of insurance. Suffolk Life says it plans to allow protected rights to invest in private equity this year.

Director of marketing John Moret says: “This is the first of several improvements we are making to the Suffolk Life MasterSIPP this year.

“Advisers now have increased investment choice at their disposal at a reduced cost. Any simplifications to administration processes that save time and also bring enhanced choice will always be welcome.

 “Our research tells us that advisers want us to continue to develop the Suffolk Life MasterSIPP and that is exactly what we are planning. Our developments will continue to evolve, in 2007 we brought commercial property via protected rights to the market.

“In 2010 we intend to do the same for private equity held in Sipps, meeting the increasing demand from advisers and investors.”

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