METLIFE has scrapped the £400 set-up fee and £40 administration charge on its SIPP and TIP plans for anyone investing a minimum of £100,000.
Formerly the discounted rate only applied to those investing £750,000 or more, but following strong sales since the launch of the company’s first two retirement products in January, MetLife believed now was the right time to lower charges. Paul Shallis, chief operating officer at the company, said MetLife was pleased to be able to lower charges, and added the TIP, which features a Secure Retirement Option (SRO) which protects investors’ capital, had proved especially popular. “We have been delighted with the response to our Secure Retirement Option and we believe the first quarter is ...
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