Transferring a Pep investment

Transferring Pep funds through a supermarket can cut down on paperwork and make it easier to analyse and administer clients' portfolios

There was just over £34bn invested in around 7.2 million Pep accounts in April 2003, according to the IMA. Although rather slow to sell when they were first introduced in 1987, they quickly gained in popularity once the tax-free investment limit was increased and the types of investments allowed was opened up to include a wider range of unit trusts and investment trusts. While no new money can be invested in a Pep since they were replaced by Isas, this in no way means that these investments need be frozen in time. Investors are free to switch funds or transfer them to another Pep pr...