Mailings

Monday 15 September 2008

PAL and IPS announce merger

As a valued business contact of The PAL Partnership Ltd, I am writing to let you know that PAL is merging with its sister company in the IFG Group plc, IPS Pensions Ltd to form one of the leading independent SIPP providers in the UK.

The new company is The IPS Partnership Plc.  The combined firm has established over 6,500 SIPPs and over 1,700 SSASs from offices employing 70 staff in London, Manchester and Bristol.

For new SIPP clients, an enhanced SIPP product - The IPS SIPP - will be available this autumn. It will continue to allow the full range of investments permitted by HMRC and in addition will accommodate the recent changes brought about by the DWP and HM Treasury, to allow clients to transfer protected rights into SIPPs. Full details will be available very shortly.

For existing SIPP clients, there will be no difference apart from the new name and corporate identity and the ability to transfer protected rights. Where protected rights are transferred into existing SIPPs there will be an increase to the annual fee of £95 plus VAT.

Our SSAS and employee benefit services will be unaffected apart from our new corporate identity.

Please find attached a letter we propose to send to existing SIPP clients you may have with us. If you would prefer us NOT to write directly to these clients about our news and how it affects them, then please let me know by Friday 19th September.

Your usual contacts at PAL are available to answer any queries that you and your clients might have.

We look forward to continuing to offer you and your clients the best possible service at a most competitive rate.

Yours sincerely

Richard Mattison
Business Development Director