Standard Life hails Sipps' success
Standard Life has hailed three years of "successful" integration of self-invested personal pensions (Sipps) into the UK's retirement services sector.
Sipps were first made available as a way of saving for retirement in early November 2004 and Standard Life has seen fit to celebrate what it calls "three years of excellence" for the newly introduced pension option.
Explaining the reasons for celebration, the financial services firm points out that more than 40,000 people in the UK have opened a Sipp policy since their launch and that over £7 billion worth of funds has now been invested in this way.
Chief executive of UK financial services at Standard Life Trevor Matthews said: "Our Sipp has been a spectacular success since launch, enjoying first mover advantage as well as providing our customers and advisers with first class service.
"With exciting developments in the pipeline, 2008 will be a year of evolution for our Sipp and we are well positioned to deliver our organic growth strategy using capital efficient innovative products."
Earlier this week, Standard Life released a report that suggested British consumers ought to change their attitude toward borrowing money in order to resolve their "chronic debt issues".
Related Stories
This news is available in 