Cofunds is suspending charges on its Suffolk Life-run self-invested personal pension (SIPP) while it upgrades its systems post-Retail Distribution Review (RDR).
The platform has been unable to facilitate investment-related charges from its SIPP, known as the Pension Trading Account. Previously took such payments from the platform cash account, but has suspended this practice until further notice. A spokesperson for Cofunds said: "We're in the process of enhancing our systems so that for clients with pension products on the platform, the investment-based platform charge can be taken from their Pension Trading Account (within the product wrapper) rather than the Cofunds cash account. "We've taken the decision to waive the investment-based eleme...
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