Key Takeaways
- • iPensions Group launched iSIPP, a direct-to-consumer digital service that lets UK and international customers consolidate pension funds into one pot online at www.isipp.co.uk.
- • iSIPP charges an annual trust fee of £200 plus a 0.25% platform services fee, with fund OCFs starting from as low as 0.17%.
- • Industry analysis cited by iSIPP estimates around £250 billion in UK pension pots could benefit from consolidation.
- • The service offers funds from BlackRock (including its multi-asset, risk-managed MyMap range with an ESG option) and Schroders (including a Shariah-compliant fund).
- • The launch extends iPensions Group's technology-driven strategy into the SIPP market, while its adviser-channel SIPP products continue unchanged.
Summary
iPensions Group has expanded into the direct-to-consumer market with the launch of iSIPP, a digital service designed to help UK and international customers consolidate their pension funds. According to the company, customers can sign up at www.isipp.co.uk to combine funds into a single pot, select their preferred investment funds, and monitor performance online around the clock, with transparency on fees and charges.
The service is open to all customers with UK pension funds who are working or have worked in the UK. Per the announcement, industry analysis estimates that around £250 billion in UK pension pots could benefit from consolidation, and customers consolidating may reduce fees and save administration time.
Fund choice includes offerings from BlackRock and Schroders. BlackRock's multi-asset, risk-managed MyMap range is available, including an ESG fund, and Schroders' Shariah-compliant fund is also accessible through the platform. iSIPP sets an annual trust fee of £200 plus a 0.25% platform services fee, and states that fund OCFs start at 0.17%.
iSIPP Managing Director Hrishi Kulkarni said the company aims to give clients control over their pensions and investment choice while maintaining a personal service. He argued that consolidation gives clients fuller oversight of performance and means dealing with only one pension provider in retirement, and pointed to the track record of iPensions Group in technical knowledge and service.
The launch builds on iPensions Group's growth strategy, which centres on technology-enabled products following significant investment in technology. The group continues to serve advisers through its Adviser SIPP, Platform SIPP, USA SIPP and Irish Transfer Service.
The service is open to all customers with UK pension funds who are working or have worked in the UK. Per the announcement, industry analysis estimates that around £250 billion in UK pension pots could benefit from consolidation, and customers consolidating may reduce fees and save administration time.
Fund choice includes offerings from BlackRock and Schroders. BlackRock's multi-asset, risk-managed MyMap range is available, including an ESG fund, and Schroders' Shariah-compliant fund is also accessible through the platform. iSIPP sets an annual trust fee of £200 plus a 0.25% platform services fee, and states that fund OCFs start at 0.17%.
iSIPP Managing Director Hrishi Kulkarni said the company aims to give clients control over their pensions and investment choice while maintaining a personal service. He argued that consolidation gives clients fuller oversight of performance and means dealing with only one pension provider in retirement, and pointed to the track record of iPensions Group in technical knowledge and service.
The launch builds on iPensions Group's growth strategy, which centres on technology-enabled products following significant investment in technology. The group continues to serve advisers through its Adviser SIPP, Platform SIPP, USA SIPP and Irish Transfer Service.
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