An investment platform services provider says it will be adding features to its Sipp wrapper to take advantage of the pension reforms starting in April.
Parmenion announced that for clients with investments in its Sipp wrapper, the payment of both lifetime income and capital withdrawals will be free, bar the standard platform charges, as will be the deduction of tax and the provision of electronic statements.
The change will take effect on 7 April, the day after the pension rules come into force.
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Richard Goodall, head of distribution and partner at Parmenion, said the Budget changes have been "seamlessly integrated into the Sipp offering, which has significantly strengthened the proposition and ensured supporting advisers are free to exploit all the new freedoms".
He said: "The new pension freedoms transform the relationship between clients and their pension assets. With flexible access to capital on one hand, and possible exemption from Inheritance Tax on the other, an investor's pension really is the jewel in the crown of their portfolio.
"Many more clients will enter drawdown than in the past and I am delighted that we will be able to facilitate this new flexibility from the first working day after the new tax year. Looking ahead we have plans to further assist advisers with tools to make the advice journey simpler and less time consuming for all.
"Our goal is to create solutions which make it easier for advisers to do business. This development capitalises on our ability to integrate intuitive technology, robust discretionary investment management and cost effective administration services."
Parmenion launched its investment Sipp in June 2014 and have since been developing support for at-retirement income options.
Mr Goodall said: "Our free Sipp wrapper has proved popular with advisers who value the efficiency of our whole process. Since its launch, over £100m has been introduced to the platform for investment through the Parmenion Sipp."