Suffolk Life buys EPM

Close-up image of a firm handshake between two colleaguesLast month we reported that European Pensions Management Ltd (EPML) had gone into administration. It has now been revealed that EMPL has been acquired by Suffolk Life, which itself was bought by Curtis Banks in January of this year. Administration EPML, which started trading in 2001, went into administration on 21st June 2016. In a statement on its website, administrator, Smith & Williamson, said: “Clients of the Company (EPML) should now be aware that following a number of sales undertaken by the joint special administrators, all ...

SIPPs: Why SIPP fees might be about to rise

Why SIPP fees might be about to riseFears are growing that investors in Self-Invested Personal Pensions (SIPPs) could see fees rise sharply following an increase in the cost of regulation. All SIPP providers pay fees to the Financial Conduct Authority (FCA), as well as an annual levy to the Financial Services Compensation Scheme (FSCS), which “pays compensation if a firm is unable, or likely to be unable, to pay claims against it.” Miss-selling and toxic investments As anyone who has read our blogs over the past few years will know, the self-invested pension ...

SIPPs: Providers split over final capital adequacy proposals

SIPP logoNearly two years after the original capital adequacy proposals the Financial Conduct Authority has now released their final rules. Most people agree the new rules are a ‘watered-down’ version of those first proposed:   Many SIPP providers, although not all will have to reserve far less capital than they originally thought UK commercial property, as well as other assets such as UK bank accounts, will now be treated as ‘standard assets’ The surcharge for taking in ‘non-standard’ assets will now be based on the number of SIPPs managed rather than the value of assets So ...

SIPPs: Suffolk Life launches new bypass trust

SIPPs: Suffolk Life launches new bypass trust A leading SIPP provider has launched a new bypass trust to help SIPP investors reduce their future Inheritance Tax liabilities. Suffolk Life, who administers over 20,000 self-invested pensions, with £6 billion of assets, will now make the new trust available as standard on their range of SIPP (Self-Invested Personal Pension) products. How does a bypass trust work? Lump sum death benefits paid from a pension before ...