Tillit has plans to enter the “broken” pensions market with the launch of a Sipp later this year.
The self invested personal pension will be available to private investors through the Seccl platform.
The company’s founder and CEO, Felicia Hjertman, said people should have more say in where their pensions are invested.
“Workplace pensions are broken,” she said, “The industry desperately needs innovation and change.
“People don’t engage with their pensions; they save too little.
“If the industry doesn’t innovate then we are heading straight for a pension crisis.”
Full details of the new Sipp are yet to be confirmed but Tillit expects customers to enjoy the same platform fee structure as existing customers, which is 0.4 per cent for the first year on total assets which decreases annually.
Hjertman added Tillit’s aim is to help people engage with their pensions.
She said: “The responsibility to ensure you have enough in retirement has already shifted from the employer to the employee.
“To get people to engage, you must give them the chance to take ownership of their pension in the first place.
“That is what we are on a mission to do as we gear up to launch a pension offering that puts long-term savers at the heart.”
tara.o'connor@ft.com
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