Financial services firm True Potential Investments LLP has backed Government plans to reduce annual pension fees with the launch of a new pension product with no annual charges or transfer fees.
The firm says its Self-Invested Personal Pension (SIPP), which is available from today, will make pensions more accessible and better value.
The True Potential Pension, available exclusively to investors already using the True Potential Wealth Platform, will come with a number of benefits, including:
- No product charges and no annual fees
- No transaction fees
- No minimum investment
- No transfer fees
The launch comes just days after the Government announced plans to cap annual pension fees between 0.75% and 1%.
Daniel Harrison, senior partner at the firm, said: “Many people have pension portfolios that are fragmented and difficult to manage. The True Potential Pension brings together our technology-focused approach with a great value pension product.
“This has been in development for some time but the timing of the launch is perfect as annual pension fees have come under national scrutiny.
“We are offering people the opportunity to take control of their pensions, bringing disparate funds into one place with minimal fuss, and without charging them to do so.
“Our technology means that investors on the True Potential Wealth Platform can monitor and track the performance of their pension using their mobile device, with the same ease, and in the same place, as they do their other investments.”