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Sipp with increased control

Winterthur Life is introducing a new self-invested personal pension product aimed at the growing band of investors wanting to take control of their pension arrangements.

The Universal Sipp has a range of investment options from a panel of portfolio managers including commercial property, pension funds, unit trusts and deposit accounts. The managers include Cazenove, Gerrard, Killik & Co, Credit Suisse Private Banking, Tilney and Charles Stanley Stockbrokers.

Investors can also choose from Winterthur&#39s Tailored Selection range of 41 funds from 17 investment managers. The product also offers online capability for real-time trading and valuations.

Investors choosing Winterthur&#39s panel of portfolio managers will be charged £375 a year. Those wanting access to the full range of investment options under the Sipp will be charged £475 a year.

The Sipp has no initial charges and does not charge for income drawdown, phased retirement, early retirement, transfers out or additional panel portfolio managers. It offers a discount of £200 if £100,000 or more is invested in Winterthur&#39s own funds.

The Sipp is administered by Winterthur-owned third-party administrator PPML. The company hopes investors will be attracted by the contract&#39s flexibility and control – investors can re-adjust the strategy to suit their changing needs.

Winterthur Life sales and marketing director Mike Kellard says: “There is a great deal of uncertainty and speculation within the pension industry right now which is distracting from the fact that there is progress being made in some areas of the market.

“The launch of the Universal Sipp is a further extension of Winterthur&#39s commitment to providing innovative products for professional advisers and astute investors.”

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