Standard Life launches its group self-invested personal pension to employers looking to review their scheme arrangements in advance of A-Day next year.
Several investment options will be available including residential property from April 6, as well as Standard Life mutual funds, stocks and shares, discretionary fund management and commercial property investment.
GSIPP, due to launch in January 2006 will be fully integrated with Standard Lifes existing group pensions e-commerce technology. Online servicing will help to minimize administration for employers and advisers.
Marketing director Barry ODwyer says: We believe group Sipp will revolutionize the corporate pensions market. Group Sipp will allow many employers to simplify and upgrade their pension arrangements, particularly those who are considering a move from trust-based to a contract-based scheme in light of the Pensions Act 2004.