SIPP providers are being increasingly targeted for “loan buddy” business, a prime vehicle for pension leakage, warns Andrew Roberts, chairman of Association of Member Directed Pension Schemes (AMPS.)
A "loan buddy" is where two loosely connected parties lend to one another in tandem through their SIPPs. Roberts said: "You have to treat it with a pinch of salt if the loan is going to be unsecured...
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£2,500 award goes to Coutts & Co employee