Pensions advice has become more convoluted since the introduction of the pension freedoms and choice regime, and the self-invested personal pension (Sipp) market is no exception.

While advisers grapple with the new pensions regime, regulation such as the capital adequacy requirements and more focus on what is a standard asset (and what is not), has put greater pressure on Sipp providers.

Moreover, some Sipp providers have changed their propositions and raised costs in order to comply with the new capital adequacy requirements. 

Experts believe there is going to be more consolidation among Sipp providers, especially as providers and advisers have to tackle certain potential problems, such as the need for more due diligence on non-standard assets. 

This guide aims to show the effects the government’s pensions freedom and choice regime and the regulator's capital adequacy changes have had on the Sipp market, and how advisers may need to tread carefully in future.

Contributors to this guide: Elaine Turtle, director for DB Pensions; Martin Tilley, director of technical services for Dentons Pension Management; Greg Kingston, head of communications, product and insight for Suffolk Life; Chris Jones, founder of Rock Consultancy; Neil MacGillivray, head of technical support for James Hay; Stewart Davies, chief executive of Momentum Pensions; Rachael Healy, senior associate at law firm RPC; George Houston, senior technical and development manager at Mattioli Woods; and Mike Morrison, head of platform technical at AJ Bell.