Pru SIPPs in to drop establishment charge

There’s nothing more uncertain than a British summer but Prudential have some good news for new clients of its Self Invested Personal Pension (SIPP). They will be £300 better off this summer thanks to the company waiving the establishment fee charged when a Self-Invested Fund is set up.

Reassuringly for clients, Prudential is recognised as one of the most well known brands for pensions in the UK with self-investment being serviced by the award-winning team at Suffolk Life.

Julie Mulvanny, Head of Pensions for Pru UK said, “This is good news both for clients and advisers. Everyone wants to make the most of their income in retirement and what could be better than having more money at the start of the self-investment process? Especially when it leads you to the powerful combination of Prudential and Suffolk Life.”

The Self-Invested Fund is available through Prudential’s Flexible Retirement Plan, and provides access to a wide range of investments including stocks, shares, collectives and commercial property. It also boasts access to over 800 funds via Cofunds (the UK’s leading independent fund supermarket), with preferential terms in many cases, as well as exclusive access to the choice of over 150 discretionary investment managers.

To deliver this investment diversity, Prudential has secured the expertise of Suffolk Life; the award-winning SIPP service provider with a proven track record in this field. Suffolk Life manages the investment of each self-invested fund and are responsible for the purchase and management of commercial property within the SIPP.

An experienced transfer and technical team is also on hand to assist advisers through complex pension transactions as well as helping on any product legislative enquiries.

The offer launched at the start of July and runs until the end of September 2007.