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: Providers split on whether investment choice should be restricted

Providers split on whether investment choice should be restrictedSelf-Invested Personal Pensions (SIPPs) are popular with investors mainly because of the investment flexibility they offer, compared to other forms of pension. However, regulators have warned that some investors, as well as unscrupulous advisers and salespeople, are taking advantage of this flexibility by taking out or selling investments, which may not meet HMRC rules and could therefore lead to unforeseen tax charges. One possible solution, to the problem of assessing whether an investment meets HMRC rules, and therefore avoid a tax penalty, would be ...

SIPPs: Warning for investors as complaints rise

SIPPs: Warning for investors as complaints riseThe Financial Services Compensation Scheme (FSCS) has reported a rise in the number of complaints relating to SIPPs (Self-Invested Personal Pensions) and at the same time has issued a warning to investors. The FSCS compensates investors for poor advice, when a complaint is upheld, but the original adviser is no longer trading. Figures released this week show that complaints relating to pensions and investments are up 15% over the past year. The FSCS has said the increase is down to the number of complaints relating to ...

SIPPs: New SIPP launched offering “best of both worlds”

Barnett WaddinghamHot on the heels of two recent SIPP launches, Barnett Waddingham has today launched their new ‘Flexible SIPP’, which will offer investors the “best of both worlds”. Barnett Waddingham, who already manages in excess of 2,300 SIPPs, has bucked the recent trend of SIPP (Self-Invested Personal Pension) providers splitting their offering between a ‘Lite SIPP’, generally offering access to a restrictive panel of Discretionary Fund Managers and a ‘Full SIPP’ allowing access to a wider range of investments....