Corporate wrap SIPPs are overkill for majority

Jenna Towler
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Corporate wraps giving 'blue collar' workers access to self-invested personal pension (SIPP) products will never break through traditional barriers like employee engagement, according to LV=.

Head of pensions and investments Ray Chinn (pictured) said while corporate wraps - many of which offer access to SIPPs - are a good way to get information out to the workforce it was unlikely the majority of workers would actively opt for SIPP-type retirement saving. He said the distinction between executives who use a group SIPP set up and the rest of the workforce would remain. Chinn added this segmentation of pension provision would continue post-automatic enrolment. He said: "I am still not completely convinced about workplace SIPPs. Group SIPPs do have a share of the market, for ...

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