Businesses could use a Sipp or Ssas to protect premises
Story by: Dominic Welling, FTAdviser
Businesses suffering from the economic downturn should think about protecting themselves from future financial problems by placing their premises within a self invested personal pension (Sipp) or a small self administered scheme (Ssas).
The Department of Work and Pensions (DWP) has clarified that its policy intention is to ensure that protected rights funds administered within self-invested personal pensions (Sipps) are not eroded disproportionately to the rest of the pension fund.
The Freedom Sipp has closed to new members after the Financial Services Authority (FSA) identified administrative issues during a recent visit.
Sipp providers should invest more in their back office systems and administration teams, according to Dentons Pension Management.
Investors could ride out the current volatility in the stock market by putting their shares into a Sipp according to Mary Stewart, marketing director for Hornbuckle Mitchell.
The FSA is to take action to improve firms giving pension switching advice after it found 80 cases of unsuitable pension transfer advice in a review.
Alliance Trust is to close its full Sipp to new business this week, citing an 'upgrade' to the offering as the reason.
The Financial Services Authority (FSA) is taking action to improve the quality of advice given to customers who switch into a personal pension or self-invested personal pension (Sipp), after it found 80 cases of unsuitable pension transfer advice.
There is an unsustainable number of self-invested personal pension providers in the market that may not be able to survive the credit crunch, warned Defaqto.
The department for work and pensions' failure to clarify pension proportionality rules more than a month after experts raised concerns is making advisers worried about this type of business, according to Positive Solutions.
The sale of company-owned property to a pension fund could provide much-needed capital at a time when borrowing costs the earth
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