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Group Sipp move for IPS

The IPS Partnership is to enter group Sipps in the summer.

The individual Sipp provider believes personal accounts combined with adviser charging plans present an opportunity to expand into corporate pensions.

Business development director Richard Mattison says: “We believe demand for this type of product is going to increase as we get nearer to the introduction of personal accounts.

“Employers will have to pay into a personal account or do something else and when they realise what a disaster personal accounts are going to be, they will want to look at alternatives.”

Mattison adds that RDR proposals to stamp out commission bias will allow smaller providers such as IPS to compete more effectively with life companies.

He says: “I think the playing field is going to be levelled because the commission that insurance companies have been able to offer is going to be squeezed out and we will be able to compete more fiercely.”

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