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Liberty Sipp extends charge freeze to 2017


Liberty Sipp has frozen management charges for a third year in a row in a bid to attract new business.

The Sipp provider says strong cash reserves and savings made on its IT systems has allowed it to hold charges until at least April 2017.

Customers using the Liberty Option Sipp, the only product open to new savers, pay £150 plus VAT a year.

The fee covers contributions, access to an online valuation tool, annual reporting, and payment of the tax-free lump sum where no taxable income is taken.

In addition, one free standard investment – such as a discretionary fund manager – is covered by the management charge.

Additional standard investments will cost £25 plus VAT in annual fees.

Once customers enter drawdown and take taxable income, they are charged an additional £100 plus VAT per annum.

If customers empty their Sipp through drawdown or Ufpls they are charged £300 plus VAT in the first year, £200 plus VAT in the second year, and £100 plus VAT thereafter.

Liberty Sipp managing director John Fox says: “In 2013 we pared down our proposition to just one simple, build-it-yourself product, the Liberty Option SIPP. Its annual management charge has been at its current low level ever since, and we’re now freezing it even longer – until at least April 2017.

“The fee freeze is part of our ongoing commitment to win new clients and capitalise on our strong financial position.”



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