Standard Life says it will launch a new Self Invested Personal Pension which could soon be past through the family in order to keep pace with one of the fastest growing areas of the pensions market.
According to Standard Life, the new Sipp has been created for customers looking to take greater control of their pension fund and falls in conjunction with the proposed pension simplification in April 2006. In particular, Standard Life suggests the changes to this Sipp creates the potential for ‘inter generational pension provision’ through a form of family SIPP, allowing pensions to be passed from one family member to another. Simplification of this product will include residential property as a pension fund asset, thereby opening up a potential interest to 473,000 people in the UK wi...
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