View more on these topics

Hargreaves switches Sipp trustee to boost cash returns

Hargreaves Lansdown has switched the trustee of its Sipp, allowing it to invest in a broader range of assets and boost returns on savers’ cash investments.

According to a letter sent to Sipp customers, Hargreaves Lansdown Asset Management has been appointed Sipp trustee in place of Hargreaves Lansdown Pension Trustees.

The firm says this gives it “access to a wider range of banking services, whilst retaining the same protections for clients”.

The changes take place from 20 April 2015 and will allow Hargreaves to invest in a larger range of fixed-term deposits which it says will allow it to boost interest rates offered on cash held within the Sipp “now and in the future”.

Pension pots up to £5,000 will earn 0.05 per cent gross, up from 0 per cent under current terms. Up to £25,000 will remain at 0.05 per cent, up to £10,000 will rise to 0.1 per cent from 0.05 per cent, and over £10,000 will earn 0.2 per cent, up from 0.1 per cent.

Hargreaves’ rates work on a tiered basis.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm