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Low-cost Sipp from GE Life

GE Life is revamping its pension range by offering a new self-invested personal pension with no initial fee and an annual charge of £100.

The Simplified Sipp is targeted at the mid-market investor who wants investment flexibility without paying the charges of a full Sipp.

Investors can choose from a range of collective funds, inc-luding unit trusts, Oeics and trustee investment plans of rival insurers. The Sipp offers actively managed funds from JP Morgan Fleming Asset Management, GE Asset Management, Goldman Sachs Asset Management and Schroder Investment Management as well as passive management from State Street Global Advisors.

Minimum investment is £100,000 in GE Life funds.

GE has also removed bid-offer spreads from singlepremium personal pensions, pension transfers and drawdown products. Most products now have 100 per cent allocation before commission.

Head of pensions strategy Dave Lowe says: “Sipp investors break into three categories – those that invest in the whole range of investment vehicles, those that primarily invest in commercial property and those that invest in collective funds. Our Simplified Sipp is aimed at the third category.”


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