HSBC signs Standard Life for Group SIPP

The Group SIPP gives employees an easy way to transfer shares held in the plans with the additional bonus of income tax relief. HSBC’s Group SIPP will sit alongside its existing defined benefit and defined contribution pension arrangements. Andy Dickson, senior business development manager Standard Life, says: “Group SIPP arrangements have gone from being a niche to a mainstream pension arrangement in a very short space of time. One in four of our company pension plans currently sold is a Group SIPP. “The deal with HSBC is unusual in that we have developed a bespoke unitised single co...