In a world full of uncertainty, rising inflation and creeping interest rates, pension charges are one of the few things investors can control to help maximise long-term returns: but that’s only part of the story.
For the best long-term retirement outcomes, people need great customer service, research tools, information and choice. But are they getting it?
Interactive investor research published earlier this year suggests that almost four fifths (77%) of people don’t know how much they are paying in charges*. One third say they are in low-risk funds, and another third don’t know their pension risk level.
ii calculates the price of being in a low-risk fund (rather than one targeting higher growth) and paying high fees could be more than £100,000 over an average worker’s career.
But finding the right pension provider isn’t easy, which is why the Which? latest SIPP review is so important.
A Which? recommended SIPP provider 2022
interactive investor, the UK’s second-largest investment platform for private investors and number one flat-fee provider, is pleased to announce it has been named a 2022 Recommended SIPP Provider by Which?, the UK’s largest consumer organisation.
The news follows a review of SIPP providers by Which?, and reflects ii’s service, customer tools and value for money.
Richard Wilson, Chief Executive Officer of interactive investor, says: “Pension blind spots are costing British savers a fortune. Potentially life-changing sums of money are all too often being eaten up by high fees and wasted away in the wrong risk strategy, sometimes at the hands of some of the UK’s best known life companies.
“The best investment platforms can be part of the solution. Great customer service, insights, educational tools, choice, and value for money are key – but trawling through the options isn’t easy. That’s why the Which? research is so important.
“We are extremely proud to be named a Which? recommended SIPP provider. Our recently launched Pension Builder SIPP completely breaks the industry mould on value and offers outstanding choice. We continue to invest in high quality content and tools and we won’t stop looking to add value for customers.”