View more on these topics

Newcastle PALs up for Sipp as A-Day boosts interest

Pension administration firm Pensions Associates Limited is offering a new self-invested personal pension in a partnership with Newcastle Building Society.

PAL says its Sipp is expected to receive Inland Revenue approval within the next three weeks and is targeting the product at an increased interest in self-run pensions in the run-up to A-Day and after.

PAL, which is part of Dublin-based IFA aggregation firm IFG, says the fact that the Sipp will carry a familiar brand name of Newcastle Building Society will reassure customers about where their money is being placed.

The Sipp and small self-administered scheme administrator says it will not restrict types of property invested in the Sipp or the solicitors or managing agents used to run assets.

PAL is charging a £200 initial fee and a £300 annual fee for its service and there are no additional charges other than for property purchase, mortgage and non-conventional investment activities. The Sipp will also have an online service.

PAL managing director Tim Sargisson says: “Our Sipp is designed to provide a comprehensive offering in what is set to become an increasing market as we approach April 2006.

“We want to give IFAs and investors complete control over the way they compile their portfolios and how they run them. Many Sipp providers do not allow intermediaries this flexibility. We want to give first-class service.”

Recommended

Brokers say social housing move will aid FTBs

Funding for 10,000 social housing units a year by 2007/08 is part of a housing budget for England of £1.3bn a year announced by Chancellor Gordon Brown in the spending review this week. The news has been welcomed by brokers who say the move will help first-time buyers and lead to a wave of innovative […]

FSA checking on indirect benefits

The FSA has just concluded a review of the indirect benefits paid by product providers to intermediaries which could uncover anomalies. The review, which has been conducted over a four-month period, required product providers to share with the FSA all the indirect benefits they paid out over this period. It also looked at what intermediaries […]

Provision priority

The Financial Ombudsman has concerns over reviewable premiums on critical-illness policies. What needs to be done to allay these concerns and what will be the effect on the market? McKie: Our plan offers five-yearly reviewable premiums where only the expectations of future morbidity experience can be reviewed. We appreciate the concerns that the FOS have […]

New Route company offers A-Day advice

Route Wealth Management, an IFA specialising in pension advice on A-Day issues, has been launched. The firm is part of the Route Group, which already has four subsidiary companies – a tax and estate planning unit, an independent mortgage broker and a property acquisition service. It is based in the City and says it has […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment