The DPS is provided by SMARTfund Administration Limited and accredited as Sharia compliant by the Islamic Bank of Britain plc.
The DPS provides Muslim investors access to a series of investment portfolios which can be held within a self-invested personal pension. This is administered by Pointon York SIPP Solutions Limited, a leading provider of SIPPs, and also accredited as Sharia compliant by IBB. As a qualifying scheme for auto-enrolment, the Pointon York SIPP is available to employers as an alternative to a group personal pension or as an alternative choice to the auto-enrolment schemes currently available. The Corporate SIPP has three tiers, selectAdvance, selectPremier and selectExecutive, providing flexibility according to employee levels.
Commenting on the challenges of long-term financial planning, Sultan Choudhury, Managing Director, IBB said:
“Retirement planning has become an important issue in the UK; new auto-enrolment legislation has highlighted that a large proportion of the population is not planning and saving enough for their future. The problem is compounded for Muslim investors, who have so far been limited to a small range of products that meet the criteria of their faith. As an investment service with a wide range of Sharia compliant portfolios the DPS, accredited by IBB, offers IFAs with Muslim clients a comprehensive solution. It has made retirement planning more accessible for investors who wish to manage their wealth in line with their faith and ethical beliefs.”
