EBS waives fees on SIPP transfers as other providers exit the market

EBS Management, the pensions arm of Charles Stanley, is offering clients of IFAs and other pension intermediaries preferential terms to transfer their Self Invested Personal Pensions (SIPPs) to EBS before the new regulatory regime comes into force on 6th April.

The new regulations on SIPP providers are causing some businesses to seek to outsource their SIPP business to an established and authorised provider. EBS Management will carry out the regulated activity of establishing, operating or winding up personal pension schemes under the new regime and can offer preferential terms to those businesses whose clients effectively will be orphaned by providers exiting the market. EBS will waive the establishment fee on all new applications to help ensure a smooth transition of business.

EBS director Kate Ragnauth said: “The regulatory changes could leave some SIPP clients high and dry, as the new rules will oblige some providers to pull out of the market. EBS is committed to providing the highest quality SIPP services and is keen to speak to businesses with a demonstrable track record about providing continuity of care for their clients. In the coming months we will be strengthening our product offering and building on our existing resources and expertise. We would be pleased to help SIPP holders and their intermediaries to plan for their secure financial futures.”

EBS administers more than £800 million across its portfolio of 2,000 SIPPs and Small Self-Administered Schemes (SSASs). Retirement planning is a key component of Charles Stanley’s integrated strategy for private and corporate clients across its 25 UK offices. EBS also offers a “white label” SIPP service to selected investment IFAs and wealth managers, and Charles Stanley Benefit Consultants complements this service by offering pension schemes as part of tailored employee packages for small and medium sized businesses.