Standards body pledges to improve Sipps transfers

Origo, the eCommerce standards and services body for the UK Financial Services industry, has joined the Association of Member Directed Pension Schemes, the trade body for self invested personal pensions and small self administered schemes.

Paul Pettitt, managing director of Origo, said becoming a member will better enable Origo to drive further efficiencies in the industry, particularly around transfers.

He highlighted that a “key focus” for Origo is to help Sipp and Ssas platforms and providers deliver efficient re-registration transfers.

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Mr Pettitt said: “Our recent transfers of Sipps white paper highlighted areas where, we believe, an easily employed automated re-registration solution could quickly and effectively deliver greater efficiency and cost savings for Sipp and Ssas platforms and providers.

“Origo’s Options Transfers service now provides a ‘plug-and-play’ asset re-registration solution, developed with input from a range of industry participants, and is being employed by major SIPP providers and platforms, such as AJ Bell and Curtis Banks.”

Andrew Roberts, chairman of Amps, added: “We welcome Origo as a member of Amps. As the main trade body for member-directed pension schemes, we have in excess of 200 member firms representing all parts of the industry, and we act on their behalf as the principal body and voice with all government departments who are involved in this very important area of pension planning.”