Sipp operators agree that the cost of running bespoke self-invested pensions are set to increase.
Scheme “expects to see further similar failures going forward” in relation to IFAs giving transfer advice.
Sipp providers wait for guidance before snapping up books of business.
Complaint uphold rate dropped to 53 per cent from an average on 63 per cent over the course of the last financial year.
Sipp review findings will drive polarisation and consolidation of the Sipp market.
The failings identified put UK consumers’ pension savings at “considerable risk”, particularly from scams and pension fraud.
Analysis & Opinion
Advertorial: We are seeing a general change in the way individuals view financing their retirement.
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Defaqto retirement update: An overview of the changes wrought by the Budget and what it means for savers.
Pensions have one of the more complex regulatory frameworks, in spite of the so-called ‘pensions simplification’ process that took place on ‘A-Day’...
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Jul 15, 2014
Data emphasises reality that people are not saving enough for retirement.
Jul 10, 2014
The firm will take over duties and responsibilities previously assumed by Oval Financial Services.
Jul 09, 2014
Debate surrounding whether there should be a ‘permitted investment list’ for self-invested pensions was reignited this morning.
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Jul 08, 2014
FSCS pays out £243m in compensation to consumers in 2013 to 2014.
Jul 07, 2014
If new solutions come with greater flexibility and complexity then costs may not lower, provider warns.
Jul 02, 2014
Standard Life will be contacting its Sipp customers with further details when the position becomes clear, the FSCS says.
Jul 01, 2014
Sipp provider says its new product offers customers the “best of both worlds”.
Jun 19, 2014
The ‘race to the bottom’ for self-invested personal pension fees is over – with IFAs now so fed up with poor service they are prepared to pay more,...