TD Waterhouse has launched a self-invested personal pension (SIPP) in partnership with AJ Bell.

The TD SIPP has no initial set up fees or transfer-in fees, although there is a transfer out fee of £75 plus VAT and a stock transfer-out fee of £35 per holding.

Annual administration fees are charged twice yearly at 0.25 per cent of the value of the SIPP plus VAT (subject to a minimum of £40 and a maximum of £100 per collection).

The revised product offers the ability to trade across 17 international exchanges – 15 of these online.

Trading commission rates start at £8.95 for UK and international equity trades with no commission rates charged to trade funds.

Investors can hold cash in multiple currencies and the TD Waterhouse funds supermarket offers around 1,300 discounted funds including 800 with a 0 per cent initial fee.

Darren Hepworth, trading and customer service director at TD Waterhouse said the company has worked to develop a SIPP product that gives customers the confidence to take complete control of their own investments.

He added, ‘The TD SIPP has a trusted, award-winning administrator in AJ Bell offering greater online flexibility and enhanced features. Our customers can take full control of their SIPP, and their future, online.’