UK - Talbot and Muir SIPP Services has launched a new property self-invested personal pension as part of its Elite Retirement Account range.
It said the new package had been formulated following the recent upheavals in equity markets and a growing dissatisfaction with the service levels and pricing structures offered by the main providers.
The SIPP is targeted at those who are principally seeking to acquire commercial property but will also allow the full range of permitted investments.
The Royal Bank of Scotland and the pensions law team at Harvey Ingram Owston is supporting the new venture which will not carry an annual fee.
TMS partner Brian Talbot said: “The pensions landscape is constantly changing. With pensions simplification looming, IFAs and other professional advisers are becoming increasingly aware of the benefits of property purchase within a pension fund. The property SIPP provides a cost-effective way to enter this market.”
The top stories this week were the High Court's decision to block the £12bn annuity transfer from Prudential to Rothesay Life, and a separate court ruling that 'raises the bar' for pension rectification exercises.
Guaranteed minimum pension (GMP) equalisation has soared to the top of pension schemes' to-do lists, with 58% stating it is a priority project, research from Equiniti has revealed.
Professional Pensions is holding its defined contribution (DC) conference on 4 September.