Liberty Sipp is freezing the annual management charge on its Options product at £150 plus VAT for the third year in a row, and will continue the practice until at least April 2017.
According to John Fox, managing director for Liberty Sipp, this is part of the provider’s commitment to win clients.
He said: “With many larger providers hit for six by the pension freedoms and heavily reliant on current account commissions, we believe we are one of few Sipp providers to offer such consistently transparent, fair and low fees.”
The yearly fee covers free contributions, access to an online valuation tool and annual reporting, as well as one free standard investment and payment of a tax-free lump sum where no taxable income is taken.
Adviser view:
Daren O’Brien, London-based Ifa at Aurora Financial Solutions, said: “Liberty Sipp’s fee is low and, of course, a price freeze is good for the client. But it is difficult to compare Sipps in terms of these charges because a lot depends on what is included in the AMC.
Some providers’ AMCs are low, but they then charge for a range of things that are included elsewhere in the total yearly fees. Also the value is dependent on the size of the pension pot being charged and what the client is invested in.”
