2013-02-12 18:31:00 - Stadia Trustees, the UK-based pensions company specialising in the administration of Self-Invested Personal Pensions (SIPPs), has joined forces with the Teachers Building Society to offer a new deposit account product, SIPP Save, further expanding its SIPP investment choice.
Exclusive to Stadia Trustees Ltd and holders of the Essential SIPP and Property SIPP, SIPP Save offers an interest rate of 1.2% gross/AER on cash deposits and the account can be opened with a minimum sum of just £1. Additional payments of any amount can be added at any time, with a maximum sum of £350,000 allowable within the account and four withdrawals allowed within one calendar year.
SIPP Save offers a cash element for the SIPP portfolio, which can help to reduce investment risk and increase the liquidity of the pension investment portfolio.
Stadia Trustees has four pricing options for their Essential SIPP, ranging from ‘Option 1’, which permits to hold one single FSA regulated investment, excluding land and property, to
‘Option 4’, which permits all HMRC allowable investments including land and commercial property. The cost of holding SIPP Save within a SIPP portfolio costs just £275 + VAT per annum under ‘Option 1’. Further investments can also be added under ‘Option 3’ which costs £550+ VAT per annum.
Tony Hales, chairman at Stadia Trustees Ltd, said: “The creation of our new SIPP Save product reflects a need among many investors to hold cash in their SIPP. SIPP Save will help savers near retirement who wish to increase their reserves of cash. It also allows them to take advantage of the tax benefits of a SIPP while they are making their investment decisions.”
Alan Gravett, head of sales & marketing at the Teachers Building Society, said: “Stadia Trustees are proven SIPPs experts and we decided to join forces with them to provide a great product for pension investors. We are committed to providing the most up-to-date and bespoke investment solutions to current and future customers and we expect SIPP Save will prove to be a popular addition to our product portfolio.”
The Teachers Building Society was founded in 1966 to help teachers to own their own homes. Today, they are a mutual organisation which aims to provide a competitive range of savings products as well as mortgages to all customers.
For further information about the SIPP Save, please contact Stadia Trustees on 01206 594020 or visit www.essentialsipp.com/deposit-accounts/
For further information please contact:
Sarah Evans-Toyne, Melanie Shelley or Chiara Barreca (firstname.lastname@example.org
020 7776 0520
Notes to editors:
Stadia Trustees is a leading UK pensions company specialising in the administration of Self Invested Personal Pensions (SIPPs). Since 2006 Stadia Trustees has been offering SIPPs with competitive and transparent fees to investors through its flagship product, the Essential SIPP. The company is committed to expanding choice for sophisticated investors by allowing investment across the full range of HMRC-permitted investments. Its newly launched Property SIPP is a packaged product for investors seeking to buy commercial property through their SIPP at low cost.
Based in Colchester, the team at Stadia Trustees is made up of highly experienced SIPP administrators with experience from across the pensions industry. Stadia Trustees is a member of the Association of Member Directed Pension Schemes and is authorised and regulated by the Financial Services Authority (464763). Registered in England and Wales, registration number 5751640.
Stadia Trustees has recently launched The Property SIPP, a new HMRC registered SIPP for UK pension scheme members who wish to invest in UK commercial property through a competitively priced SIPP.
Teachers Building Society
1. Teachers Building Society was founded by the National Union of Teachers in 1966 and has been based in Wimborne, Dorset, since 1976.
2. Savings accounts are available to all customers.
3. Mortgages are available to people working in education in England, Scotland and Wales and also to everyone in Dorset.
4. Teachers Building Society is authorised and regulated by the Financial Services Authority. Registration Number 156580.