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Aegon Sipp adds charging options to group Sipp

Aegon Scottish Equitable is adding four alternative charging options to its group self-invested personal pension to suit different adviser busness models.

Previously, its group Sipp could only be sold on single-priced terms but now it can be set up on any of the four structures which make up its flexi-menu proposition.

The charges include a discounted annual management charge, a fee replacement charge and two indemnity commission options. Members will only pay for self-investment if they decide to use it.

The group Sipp flexi menu can be set up with the adviser taking control of the self-investment choices or the member doing it themselves.

Other key features include a choice of over 1,300 investment options through Aegon’s fund supermarket, access to five discretionary fund managers and member trade schemes have access to full web support. This lets them browse fund options using research tools such as Morningstar, place trades and invest directly in stocks and shares.

Aegon Scottish Equitable managing director of corporate pensions Andy Marchant says: “Commission levels on mono-charged products do not always allow advisers to offer employers and employees the breadth of services and advice they are looking for.

“We have seen that there is high demand for products with flexible charging options but which offer the opp-ortunity for self-investment for those employees who want it. This gives advisers the flexibility to suit their business models.”

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