HSBC launches new SIPP for SMEs
Published On 30 January 2007 at 16:46:06
HSBC has teamed up with Standard Life to launch a new self-invested personal pension (SIPP) to SMEs.The product is aimed at bringing the benefits of an SIPP to businesses which do not have adequate assets to take up an offer from HSBC's current SIPP range.
A minimum contribution of £10,000 is required, and the package is best suited to customers who have a fund already available of around £100,000 at retirement, HSBC said.
HSBC's head of commercial insurance and investments, Mark Hussein commented: "Introducing HSBC's SIPP provided by Standard Life to our portfolio of investment and insurance solutions is a win-win situation for our commercial customers."
He added: "The benefits of a SIPP include the ability to invest in commercial property and the breadth of investment and retirement income options available make it ideal for our medium-high net-worth business owners."
Attention to pension deals in the UK is growing as the average life expectancy continues to increase.
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