SIPPs: SIPP providers forced to disclose interest rate take

iStock_000016457256XSmallSIPP (Self-Invested Personal Pension) investors could be forgiven for not noticing changes to the rules this month, which will force SIPP providers to disclose more clearly the interest they take from SIPP member’s bank accounts. Too many investors are unaware that some SIPP providers retain a proportion of the interest on the mandated SIPP account. We therefore welcome the new rules, which will help to make SIPPs more transparent; although they won’t stamp out the practice of SIPP providers retaining interest. So ...

Post Office to launch current account

Post OfficeThe Post Office has announced they will launch a new current account in the spring of 2013. The new current account will initially be launched in a small number of Post Offices, but will be rolled out to all 11,500 branches during 2014. The Post Office claims that the new current account will give consumers access to the UK’s largest branch network and increased opening hours, compared to traditional banks. According to figures from the Post Office, more than three million customers have accessed the many ...