Friends Prov adds SIPP to group personal pension

Employers can choose whether or not to add the SIPP option, which can include protected rights. Friends Provident will not charge members for the SIPP option if it is not used so members who invest purely in unitised funds pay no extra costs. The provider says the SIPP option will enable one group personal pension scheme to look after all members, avoiding the additional costs of running two separate schemes. Friends Provident has also made its income withdrawal facility, which can also include protected rights, available to the schemes. Jeremy Ward, head of pensions marketing, says:...