iPensions Group says the service is designed to provide UK and international customers with a way to consolidate their pension funds. 

The pension consolidation market has grown rapidly in recent years.

Customers can consolidate funds into one pension pot, choose preferred investment funds and monitor how they are performing online, with transparency on fees and charges, the firm says.

iPensions says industry analysis estimates around £250bn in UK pensions pots could benefit from consolidation. The firm says that consolidating pension funds may cut fees and save time on administration.

Manchester-based iSIPP’s digital pension consolidation service is available to customers with UK pension funds who are working or have worked in the UK. 

iSIPP is also offering a range of fund choices from fund managers such as BlackRock and Schroders. 

BlackRock’s multi-asset, risk-managed MyMap range of funds is available, including an ESG fund. iSIPP also provides access to Schroders’s Shariah compliant fund.

The annual trust fee is £200 plus a 0.25% platform services fee. Funds with an OCF (Ongoing Charges Figure) incur an additional charge starting at 0.17%.

iSIPP managing director Hrishi Kulkarni said: “This is an exciting step for us, and we are delighted to bring a digital solution to the UK and international consumer market. iSIPP is designed to give clients control over their pension and choice for investments, whilst continuing to provide a personable service with high levels of innovation and transparency."

iPensions Group continues to offer a full range of SIPP services via the adviser market.