SIPP provider @SIPP has won a tender to provide administration services for Royal London’s SIPP book.

The deal, which includes a portfolio of commercial properties, will mean the transfer of the book from James Hay to @SIPP.

@SIPP says the migration should be completed in early November for an initial term of three years.

The process began with a competitive tender exercise and was followed by due diligence. 

@SIPP managing director Eddie McGuire said: “We’re very pleased to win this competitive tender and happy to say we met all the necessary business and due diligence requirements.

“The wider SIPP market is going through a turbulent time at the moment so we’re proud to prove our credentials as a safe and trusted pensions provider.”

Alan Ritchie, solutions design and experience development director at Royal London, said: “At Royal London, we carried out a thorough due diligence process to select the new administrator to ensure our customers continue to be well supported. We were impressed with @SIPP Limited and are confident our customers will value the high-quality service @SIPP Limited provides.”