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Jupiter goes for new administrator


Jupiter Sipp

Type: Full self-invested personal pension

Minimum investment: Lump sum 10,000

Investment choice: Jupiter only Sipp all Jupiter unit trusts, full Sipp first 10,000 in Jupiter unit trusts with remainder in all Inland Revenue permitted investments including commercial property

Charges: Establishment charge 130, Jupiter only Sipp annual 350, full Sipp 420, full Sipp transaction
charges up to 35 per trade, additional charges for property investment

Commission: Initial 3%, renewal 0.5% on Jupiter investments, other investments negotiable

Tel: 020 7314 7699

Jupiter has revamped its Sipp, changing the third party administrator from IPM to Suffolk Life.

Aquila Financial Management managing director Nigel Hemming says: “Suffolk Life has an enviable reputation for administration so the Jupiter Sipp should run smoothly. The set up costs are very reasonable. But the annual cost is on the high side for equivalent Sipps.”
Hemming believes there will be a demand for the Sipp, although the competition will grow if the insurance company platforms develop. He says: “This segment of the market is only ever going to be an investment Sipp. Will it cope with the new range of pension investments under the new post-April 2006 regime?”

Hemming thinks the language and explanation in literature is clear and that publishing the provisions and rules is a definite plus. But he is disappointed not to see any reference to the April 2006 changes and would like to see more comprehensive terms used on the application form.

Considering the potential drawbacks Hemming says: “The post-April 2006 regime could require very different features. This Sipp offers a platform for aggregating and building pension funds but within a limited range of pension investment. For some clients this could be fine but a core will be needed to select suitable clients.”

He also points out that if the market is to develop as expected, it would be good to see more comment on transfers and the administration of the pension.
Hemming concludes that any of the Sipp platform providers will provide competition, with the difference being the costs and the administrative resources.


Suitability to market: Average
Flexibility: Good
Charges: Poor
Adviser remuneration: Good

Overall 6/10


Stewart Ritchie on pensions

Most financial advisers are probably fed up reading about how the new pension tax regime will affect people above the lifetime allowance because the vast majority of their clients will not come anywhere near to 1.5m of pension value over their working lifetime.

Alison Burns

Axa’s director of national sales says female advisers have an advantage over their male counterparts in that they are ‘genetically nosy’ and can get to the core of what a client wants and she is using this asset to forge relationships with the best IFAs in the industry.

Trouble ahead - thumbnail

Pensions: trouble ahead?

The pace of change in the pension’s space has been little short of astonishing, and has left thousands of employers struggling to keep their pension policy compliant, and also on the right side of current best practice and governance. Many employers, and indeed many in the pensions industry itself, would like to see a period of no change during the next term of government. This would give all sides a chance to catch up and draw breath. 


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