City Trustees - part of Mattioli Woods



News and Media

30 November 2012

City Trustees launches new drawdown SIPP

Bespoke self-invested pension provider, City Trustees, is launching a unique new drawdown SIPP to plug a gap in the market. The One Drawdown SIPP is a new flexible approach for customers looking to release their pension funds quickly and efficiently rather than a phased approach during retirement.

The specialist SIPP product complies with the new income drawdown rules, which were effective from 6 April 2011 and customers who reach the normal minimum pension age and meet the minimum income requirements, can withdraw their pension fund immediately subject to their marginal rate of tax.

City Trustees Managing Director, Iain Herbertson commented; "There has been quite a lot of negative publicity in the marketplace recently regarding fly-by-night businesses promoting early release pensions. These often transfer member's pension funds into highly risky or opaque investment structures".

"Our One Drawdown SIPP in comparison adheres to the minimum pension age and provides a safe and simple solution to the marketplace. Investors can typically pool various pension pots together into our short-term SIPP for the release of funds, which can be used to fund their lifestyle choices" He added.

Potential investors interested in the One Drawdown concept can gain peace of mind in the fact that the product comes from the trusted Mattioli Woods plc stable, which provides a robust capital structure. This leading UK pension provider now administers over 2,900 SIPPs and 1,400 SSASs, providing true depth of knowledge and expertise.

Mattioli Woods plc Group Chairman, Bob Woods concludes; "Most of our pension products are designed to create income generation during retirement but we do feel that this SIPP provides a perfect solution for a certain type of customer. Many other SIPP providers will simply not offer this type of facility".

To view further information on the One Drawdown SIPP. Alternatively, please contact info@citytrustees.co.uk

 

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City Trustees is a trading name of Mattioli Woods plc. For news updates on the Group, please visit our central News & Media on the Group website.