The SIPP contains a flexible investment element offering a choice of investment funds and a cash account as well as a guaranteed element. The ERA is only available through independent financial advisers and is aimed at the 60% of people who qualify for an enhanced annuity at retirement.
Andrew Megson, Managing Director of Retirement, said:
“At the end of September, we unveiled our new Enhanced Retirement Account and commenced a programme of adviser engagement and education. The feedback has been very positive and we are therefore extremely pleased to announce that we can now provide binding quotes and transact business.
“In the past, people often had to choose between flexibility, tax-efficiency, security and growth. The ERA looks to combine these key features in an easy to manage product which can evolve with the needs of each customer.”
Jon Taylor, Managing Director of IFDL added:
“We are delighted to have been selected to work with Partnership to provide the platform for the Enhanced Retirement Account. The Pension Freedoms are all about providing people with flexibility in their retirement and this proposition enables individuals to access their pension savings in the way that suits their lifestyle best.”
