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Liberty SIPP freezes annual charge


Liberty SIPP is freezing its annual charge for the third year in a row. Clients pay just GBP150 plus VAT per year for the brand’s flagship product – the Liberty Option SIPP – a price which hasn’t changed since the pension was launched in 2013.

The fee freeze will be extended until at least April 2017.

Annual fees are the primary source of revenue for Liberty SIPP, and the company is keen to drive growth by attracting new clients. Its robust financial position – Liberty has cash reserves of more than GBP1 million – together with the cost savings made by a recent streamlining of its IT processes, have allowed it to keep its fees down.

The Liberty Option SIPP is designed to be transparent and easy-to-understand, as well as flexible and low cost.

It can be opened online for free, and it pays 1% interest on its cash account; from which, consistent with its principles and adherence to TCF, Liberty SIPP retains no interest.

The Liberty Option SIPP only charges clients for what they use. So, for example, if a client wants to transfer in a property, they pay the property fee; if they want to take an income, they pay the drawdown fee.

The GBP150 annual fee covers: 

• Free contributions
• Free access to online valuation tool
• Free annual reporting
• One free standard investment, e.g. a regulated DFM (Discretionary Fund Manager) account
• Payment of tax free lump sum where no taxable income is taken
John Fox, Managing Director, Liberty SIPP, says: "Liberty SIPP has always prided itself on its transparency and low fees; our clients only pay for what they need, and don’t pay over the odds for services they don’t need.

“In 2013 we pared down our proposition to just one simple, build-it-yourself product, the Liberty Option SIPP. Its annual management charge has been at its current low level ever since, and we’re now freezing it even longer – until at least April 2017.

“The fee freeze is part of our ongoing commitment to win new clients and capitalise on our strong financial position.

“With many larger providers hit for six by pension freedom and heavily reliant on current account commissions, we believe we are one of very few SIPP providers to offer such consistently transparent, fair and low fees.”

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