UK financial services group Prudential is entering the self-invested personal pension (SIPP) market with a deferred product offered through Suffolk Life.
The Prudential deferred SIPP will be available through its flexible retirement plan self-invested fund, and will provide clients with access to a wide range of investments including stocks, shares, collectives and commercial property, the group said.
SIPP service provider Suffolk Life will manage the investment of each case, and will also be responsible for the purchase and management of the commercial property option within the SIPP.
Prudential’s UK intermediaries director Tudor Taylor said: We have introduced a range of retirement solutions from pensions through to annuities that cater for the different life stages that customers go through. Customers and advisers can utilize Prudential’s retirement solutions package as a one – stop shop for their retirement needs.
Prudential said that the deferred sipp is designed for investors who may wish to self-invest at the outset or benefit from loyalty rewards within the flexibly retirement plan, then invest in the SIPP at a later date.