Pointon York launches corporate Sipp with Praemium
Pointon York Sipp Solutions has teamed up with Old Broad Street Research (OBSR) and Præmium to launch a fully flexible corporate self-invested personal pension (Sipp), which is risk-rated and has a three-tiered structure.
The new SelectCSipp is designed to meet the FSA's criteria for the retail distribution review (RDR), and supports the Department for Work & Pensions' (DWP) auto-enrolment requirements for employers ahead of the 2012 deadline.
The SelectCSipp has been designed as an alternative to traditional corporate pension schemes and provides IFAs with a fully brand-able online portal, risk profiling and compliance as well as active professional fund management, online access to the latest fund information and a consistent point of contact for seamless communication.
The first tier of the product - SelectAdvance - features risk profiling, matching assets and a defined investment outcome to the employee's attitude to risk.
The second tier - SelectPremier - allows bolt-on investments such as Sip to Sipp, direct investment and unquoted shares.
The top tier - SelectExecutive - provides full Sipp flexibility for senior managers and company directors.
Jo French, managing director of service and operations for Pointon York, said: "We are extremely pleased with SelectCSipp.
"It is one of the most flexible corporate Sipp products on the market, providing defined investment outcomes on a risk and reward basis and focused on the end user with the ability to tailor schemes to suit the specific needs of each individual member and their portfolio.
"We are delighted to be in partnership with OBSR and Præmium to deliver the SelectCSIPP, which benefits intermediaries and their clients with access to the whole of market and extensive experience in asset allocation and fund selection."
Præmium's Smartfunds have been chosen to underpin the investment solution provided through the SelectCSipp.
John Martin, managing director at Præmium, said: "We are delighted our Smartfunds, which use OBSR's expertise, have been chosen to underpin the investment solution provided through the SelectCSipp.
"They have been designed to ensure that all employees get the same proven investment process and philosophy, applied to meet their tolerance to risk.
"When an employee selects a fund that matches their risk profile, they can be confident that the fund is consistently managed according to a risk outcome, which is very powerful."
SelectCSipp enables pension consolidation and transfers in from other schemes, including state contributions, and will be of added value to employers as a useful and attractive benefit vehicle for recruitment and retention of the highest calibre individuals.