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Axa launches pooled Sipp

Axa has launched a pooled Sipp aimed at offering a tax efficient way for families or business partners to invest together.

Axa says its family suntrust self-invested personal pension comes in response to the growing demand for investment flexibility, and allows for potentially lower fund charges and the opportunity to minimise inheritance tax.

Members of each family suntrust can choose to invest through a variety of different vehicles including offshore and onshore bonds, stocks and shares, trustee investment plans and UK commercial property.

The scheme has been piloted by Smith & Williamson personal financial planning director Mike Fosberry.

He says: “Family Suntrust is a new approach to group pension planning and the appeal also lies in the potential to secure lower charges from fund managers who will deal with one single, joint sum rather than lots of smaller pots of money. This is just the sort of innovative pension product that IFAs are seeing demand for.”

Axa Winterthur Wealth Management managing director of sales and marketing, David Thompson says: “Times have changed and pension planning has to reflect that. With its reputation for self-invested pensions and income drawdown innovation, Axa Winterthur is in a strong position to construct a new Sipp proposition that helps groups of individuals plan for retirement with a common investment strategy in their own pooled Sipp.”


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