CMC Invest, the equity trading arm of CMC Markets (LON: CMCX), has announced the launch of a Self-Invested Personal Pension (SIPP) scheme in the United Kingdom. This new offering, shared last Friday, is part of the company’s efforts to expand its services and cater to the evolving needs of investors.

Designed to provide UK individuals with a self-managed pension corpus, the SIPP scheme offers significant tax advantages and flexibility in pension drawdowns. CMC Invest’s SIPP scheme, available exclusively through its Premium plan in collaboration with Quai Investment Services, features a flat fee structure, aiming to simplify financial planning for investors.

Among its key features are £0 commission on all trades, a 0.5% FX fee, and access to multi-currency wallets. Investors also have the option to transfer existing pensions into the SIPP, further enhancing its appeal to long-term investors.

CMC Invest Introduces Self-Invested Personal Pension Scheme in the UK

In a bid to attract new clients, CMC Invest has waived the usual £25 fee for its Premium plan, offering it free for the first 12 months. David Dyke, the Head of CMC Invest, emphasized the importance of transparency in fee structures, citing a survey revealing that a significant portion of investors were unaware of the fees associated with their pensions.

“With our flat fee, regardless of portfolio size or trading frequency, customers will pay a consistent monthly fee. This transparency simplifies financial planning, eliminating the need for complex calculations to understand pension costs,” Dyke explained.

CMC Invest, launched in the United Kingdom in October 2022 and subsequently expanded to Singapore and Australia, operates independently from CMC’s contracts for differences (CFDs) trading platform. It aims to provide a distinct experience focused on direct investments.

CMC Invest’s SIPP scheme aims to empower investors with transparency, flexibility, and cost-effectiveness for long-term financial planning and retirement security.

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