SIPPJun 23 2020

Insurer launches online Sipp with Hartley Pensions

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Insurer launches online Sipp with Hartley Pensions

Hartley Pensions has teamed up with international investment provider RL360 to create a self-invested personal pension (Sipp) to be used with its single premium products.

The Sipp will be managed by Hartley Pensions and is open to both UK and non-UK residents.

The RL360 Sipp can be set up entirely online or via a paper application form.

According to the firm it is “perfect for those clients who want to carry out a pension transfer or begin funding their retirement”.

Existing pensions can be transferred to an RL360 Sipp from HM Revenue and Customs recognised schemes and transfers are also possible from defined benefit schemes.

The investment component of the RL360 Sipp is restricted to products from the life insurer.

Neil Chadwick, RL360’s head of technical services, said: “Recent months have demonstrated the importance of being able to make people’s lives as easy as possible and we believe this is a major step in the right direction.

"In conjunction with Hartley Pensions, we are pleased to be able to offer advisers the choice of an alternative pension product that allows the application and ongoing servicing of the scheme to be carried out entirely online."

Michael Baber, technical director at Hartley Pensions, added: "We are really looking forward to working closely with RL360. 

“We pride ourselves on establishing and maintaining long-lasting relationships with our business partners and clients by providing them with professional, friendly and personalised administration services.

"Our products are designed to be flexible, straightforward and relevant to our clients’ needs.”

In recent years Hartley snapped up a number of defunct Sipp providers.

Earlier this year (February 19) it bought the Sipp business and certain assets of Guinness Mahon for an undisclosed sum, involving 4,000 Sipps with a total investment value of £300m.

In September 2019 Berkeley Burke’s administrators announced that the Sipp arm of the business would be sold out of administration in a pre-pack deal with Hartley Pensions.

This came after Hartley bought the £130m client book of GPC Sipp in August, which entered into administration after it was embroiled in hundreds of customer claims.

Troubled provider Lifetime Sipp also transferred 40 per cent of its Sipp book to Hartley Pensions ahead of going into administration in March 2018.

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