Hargreaves Lansdown is introducing a 0.5 per cent a year “loyalty bonus” for its 120,000 Sipp investors.
Hargreaves says the bonus will be available on over 1,000 investment funds from January next year and will increase the value of clients’ pension pots by £6m in the next 12 months.
Pensions managing director Alex Davies says: “Hargreaves Lansdown already provides over £200m a year in discounts and rebates to clients.
“Technology improvements and greater economies of scale mean we can now bring our Sipp discounts up to the same level as our Isa. In doing so we expect to boost our clients’ pensions by £6m in the next year.”