Winterthur Life pension scheme wins award

11 July 2005
Winterthur Life has achieved a five star rating for its Self Invested Personal Pensions (SIPP) from Defaqto.

The financial products research company awarded Winterthur Life the honour for the features and prices its SIPPs have to offer.

Winterthur Life was also rated a top five provider of SIPPs by IFAs.

The sales director of Winterthur Life UK, David Thompson, was clearly delighted with the news: "The Defaqto five-star rating is excellent news for Winterthur Life, which has been a leading provider of SIPPs for the last 15 years."

He added: "Coinciding with the launch of the new Winterthur Life SIPP, which has been built in anticipation of new pension simplification rules from April 2006, the report's finding are a strong indication of the unbridled expansion that the SIPP market will see beyond A-Day.

"Winterthur's top five ranking in this survey underlines the strength of our offering and the importance of continuing to develop our offering in partnership with IFAs."

The head of pensions at Defaqto and author of the report, Matt Ward, explained the sector had seen big chances in recent times and there were more to follow.

"The SIPP market has grown exponentially in recent times, and the Government's proposed A-Day legislative changes will provide huge opportunities for IFAs operating in this area."

He added that SIPPs were also gradually "losing their tag as products for wealthy clients only".

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