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Premier sets up free Sipp for 250k

Premier Asset Management is offering a Sipp which is free of charge to those who invest a minimum of 250,000 into any of its funds or managed investment services.

The Sipp also offers portfolio assurance, locking in gains in the event of death before retirement. This is free within the Premier c-lect portfolio, with a charge of 0.35 per cent a year within the Premier x-cel portfolio.

Sales and marketing director Simon Weldon says Sipps should be the obvious choice for anyone planning their retirement. Weldon says with providers such as Premier offering funds of funds or bespoke discretionary services, pension investors who have accumulated an ad hoc array of pension arrangements will be able to pull all their arrangements together.

For people investing between 50,000 and 250,000 there is an initial set-up charge of 200 and an annual administration charge of 375. For those investing less than 50,000, there is an initial set-up charge of 200 and annual charge of 500.

The Premier Sipp also offers group Sipps and a helpline for technical questions.

Weldon says: “In the same way that many investors have pulled an accumulation of Peps and Isas together under one plan manager and use funds of funds to provide active and independent investment management, the same investment benefits will be available to pension investors.”

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